In Diggers and Dealers mining forum, Australia’s mid-tier gold producer Dacian Gold Limited reported completion of A$200 million project as scheduled and estimated.
Ahead of commissioning and performance testing completion of new 2.5Mtpa treatment plant, centrally located Laverton goldfield-Mount Morgans discovered significant gold deposit called Cameron Well. A major new gold discovery, Cameron is reported to have a multiple bedrock structure with thickest high-grade intersections.
The gold miner confirmed Maiden Mineral Resource of 245Koz, 70% within 100 metres of surfaces, at Cameron while Maiden oxide Ore Reserve is scheduled to be released in late 2018.
DCN’s major open pit mining complex Jupiter Mine Area recorded 1.4Moz Mineral resource and Initial Ore Reserve of 643,000oz. However, an underground mining advancing well, Westralia Mine Area recorded 1.6Moz and initial Ore Reserves of 492,000oz. Beside reporting progress in its three-production decline at Beresford South, Beresford North and Allanson, Westralia confirmed the discovery of two high-grade underground gold mines which can potentially extend to 5km Long Ore System.
In FY2019 guidance, company targets to increase production to 180,000-210,000oz excluding the potential ore production from new Cameron Well. The company endeavors to increasing production and mine life as it aims to produce +200Kozpa at $1000/oz for more than 10 years.
DCN’s stock price was down to $2.7 despite reporting positive progress in operations.
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