Calidus Resources (ASX: CAI) is pleased to declare commercial production at the Warrawoona Gold Project. The processing plant is now operating at nameplate capacity.
A total of 191,000t @ 0.85g/t was processed in December with 5,053 ozs of gold produced.
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| Calidus Resources | ASX: CAI |
| Stage | Production, exploration |
| Metals | Gold, lithium |
| Market Cap | A$174 m @ A$0.39 |
| Location | Pilbara, Western Australia |
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Calidus Resources Warrawoona mine
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Comment
This is certainly welcome news for Calidus shareholder, myself included.
It should be noted the cash cost figure is unaudited, and is not the AISC figure I use normally, but it’s a useful guide to where they are currently.
It’s good to see production climbed steadily over 5 weeks, and we can only hope they continue to improve, and we now have to await new guidance which we should have very soon.
Commercial production declared at Commercial production declared at
Warrawoona Gold Project
Production rates continue to climb with plant operating at nameplate capacity and positive cashflow achieved in December
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Calidus Resources (ASX: CAI) is pleased to declare commercial production at the
Warrawoona Gold Project (WGP). The processing plant is now operating at nameplate
capacity.
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December Update
A total of 191,000t @ 0.85g/t was processed in December with 5,053 ozs of gold
produced.
The operation averaged 235oz recovered per day for the last third of the month.
Estimated, unaudited cash costs for December were approximately A$2,050/oz.
(Spot gold price in Australian dollars on 10th January 2023 was A$2,728/oz).
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Guidance
Production and Cost Guidance for the remainder of the financial year will be provided
with the January Quarterly due later this month.
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Calidus Managing Director Dave Reeves said:
“We are very pleased to have achieved commercial production and positive cashflow from the operations for the month.
“This is a credit to the whole team at Warrawoona.
“We are now focussing on fine tuning operations to increase throughput rates and production and we look forward to releasing guidance later this month.”
1. C1 Cash Cost per Ounce Recovered – is unaudited and notional given that December is prior to commercial production.
C1 Cash Costs includes: mining, processing, site administration and by-product credits.
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To read the full news release, please click HERE
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