The circa $3.8 million of ‘free cash' from A1's output of 2800 ounces increased Kaiser's cash position at the end of the quarter by $1.8 million to $6.9 million, despite operating two diamond rigs for the majority of the quarter.

As well as at its mine, Kaiser is exploring the Maldon district where more than 1.7 million ounces have historically been mined at an average 28 grams per tonnne.

Kaiser's Maldon ground includes the Union Hill decline, where work included underground 3D stope surveying.

Kaiser said some historical unsurveyed stopes would now need to be accounted for and "depleted from the resource estimation models being undertaken".

Elsewhere exploration results were generally described as encouraging.

Meanwhile, despite the cash generation, so far as the market is concerned the stock remains very much an exploration play.

Shares in Kaiser were up 1% to 20.7c in afternoon trade, capitalising the company at $29 million.