ENP Newswire -
Release date- 13082014 -
Production for the first half was 40,363 tonnes of copper and 64,528 ounces of gold.
Over the past year open pit operations have delivered significant productivity improvements resulting in high material movements, at a lower unit cost. Gross operational costs have also reduced with the demobilisation of equipment and lower employee costs.
In July copper production guidance for the year was raised to 85,000 to 90,000 tonnes, due to the increased production and accelerated access to higher grade ore achieved in the first half. Gold guidance of 130,000 to 140,000 ounces was maintained. The new Malu Underground operation at Prominent Hill is on track to commence production in the last quarter of this year.
In recognition of the company's current operational performance and future prospects the Board resolved to pay an unfranked dividend of
A detailed analysis of the first half operating and financial performance is provided in the Review of Operations section of the 2014 Half Year Financial Report released to the market today.
Positive safety performance maintained.
Production of 40,363 tonnes of copper and 64,528 ounces of gold for the period, compared to production of 37,853 tonnes of copper and 62,808 ounces of gold for the corresponding period in 2013.
Higher production, productivity improvements and increased Australian dollar commodity prices contributed to:
Underlying EBITDA of
Net loss after tax of
Cash at the end of the half year was
Updated Mineral Resource and initial Ore Reserve estimates released for Malu Underground on
The Carrapateena pre-feasibility study summary will be released in the coming weeks.
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