The gold producer said its gold production fell to 8,139 ounces for the three months ended
The company said its total underground tonnes of ore, waste and capital mined also fell to 85,893 tonnes, from 94,793 tonnes, and the amount of ore it processed in total fell to 76,950 tonnes from 100,182 tonnes.
Vatukoula also said the cash cost it received per ounce shipped increased to
However, the average ore head grade it received increased to 4.06 grams per tonne for the quarter, from 3.48 grams per tonne, and its total recovery rates increased to 80.89%, from 79.76%.
"As previously advised this quarter's production remained at a restricted rate, as we continue work to secure long-term financing," Non-Executive Chairman
The company said it has begun discussions with some strategic investors in order to fund the additional
The news comes after the company announced in May that it plans to seek shareholder approval to cancel trading on AIM and go private after it reviewed its business and has decided that the disadvantages of maintaining a listing outweigh the potential benefits.
Vatukoula has been hit by the continued depression of the price of gold, which has led to a fall in the company's value. The company said in May that its ability to raise funds would be hampered by the "susceptibility" of its share price to wider market conditions.
If passed by shareholders, the company would de-list as of
Vatukoula shares were down 5.3% to
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