17th Jul 2019 12:53
(Alliance News) - Ariana Resources PLC said Wednesday it saw a drop in gold production for the second quarter of 2019 from the Kiziltepe mine in Turkey.
For the quarter to the end of June, gold production was 6,438 ounces, down 10% from 7,171 ounces the same period the year before, and 11% lower from 7,296 ounces the prior quarter.
Silver production was 82,988 ounces, down 1.3% from 84,109 ounces the year before, but up 67% to 49,508 ounces the prior quarter.
Total ore processed for the quarter was up to 48,132 tonnes, up from 46,825 tonnes the quarter before, at an average head grade of 4.16 grams per tonnes of gold.
"We are very pleased to report strong second quarter 2019 operational performance at Kiziltepe, including one of the highest material movement rates in the mine's history. Gold production during the quarter was again above target, although operations continued to be constrained by the pushback underway on the southern wall of the pit," said Managing Director Kerim Sener.
"These higher mining rates are being accommodated by an increase in fleet capacity by our mining contractor and this will be maintained as we progress with pre-stripping of the Arzu North and Derya pits later this summer," Sener added.
Shares in Ariana Resources were down 1.6% at 2.26 pence on Wednesday in London.
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