The Chatree Gold Mine. Source: Kingsgate Consolidated
- Kingsgate Consolidated (KCN) completes the sale of its third shipment of gold and silver doré bars from its Chatree gold mine in central Thailand
- The shipment, yielding 1074 ounces of gold and 9067 ounces of silver was sold for more than $4 million
- Kingsgate announced it was an “excellent” result, confirming earlier estimates that ounces refined would trend upwards as the refining process continues to be fine-tuned
- The company reported its second production plant is exceeding expectations and operates above capacity averaging 370 dry tonnes per hour
- KCN shares are up 3.49 per cent, trading at $1.34 at 1:15 pm AEST
Kingsgate Consolidated (KCN) has completed the sale of its third shipment of doré bars from its Chatree gold mine in central Thailand.
The company earned more than $4 million from the sale, which included 1074 ounces of gold and 9067 ounces of silver.
Kingsgate announced it was an “excellent” result, confirming the earlier estimates that ounces refined would trend upwards as the refining process continues to be fine-tuned.
Since commencing commercial operations in November 2001, the Chatree Gold Mine has produced more than 1.8 million ounces of gold and more than 10 million ounces of silver.
Additionally, the company reported its second production plant is exceeding expectations and operating above capacity, averaging 370 dry tonnes per hour.
The average head grade produced is 0.52 grams per tonne (g/t) of gold, with recovery rates exceeding 85 per cent.
Earlier this year, the first doré bar was poured at Chatree, along with the corresponding first gold bar.
The gold refining process is now operating on a consistent weekly cycle, involving gold pours, shipments to the refiners, and payments to the company.
KCN shares were up 3.49 per cent, trading at $1.34 at 1:15 pm AEST.