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Highlights:
- Calidus’ shares were trading 25.263% lower at 2:39 PM AEDT on ASX today.
- The company shared its quarterly activities report for the September quarter yesterday (10 October 2022).
- Calidus stated that despite facing several challenges, it has made significant progress in September quarter.
Shares of Australian gold miner Calidus Resources Limited (ASX:CAI) were spotted trading 25.263% lower at AU$0.355 apiece on ASX at 2:39 PM AEDT today (11 October 2022).
Over the last 12 months, Calidus’ share price has fallen by almost 41%, and on a year-to-date basis, the company’s share price dropped approximately 45% on ASX (as at 2:39 PM AEDT today).
Recent developments within Calidus:
On 10 October 2022, Calidus shared significant progress made by the company at the Warrawoona Gold Project during the September quarter.
As per the recent update, the company has continued the steady ramp-up of steady state production at the Warrawoona Project. The processing plant achieved a 2.4Mtpa nameplate capacity. Furthermore, the LNG power station was commissioned and fully integrated into operations.
Calidus also mentioned in its update that it has achieved these key milestones despite facing a challenging situation of labour shortage and two major COVID-19 outbreaks and their impacts during the given period.
Furthermore, the company also informed that material movement and production of ores were restricted during this period as many labourers were put under isolation as a part of the Western Australian Government isolation policy.
However, the processing plants high recovery rate and normalising of mining activities have helped the company to achieve strong outcomes in the December 2022 quarter, said Calidus.
Dave Reeves, Managing Director, Calidus Resources Limited, said:
