Dacian Gold announced that it has declared Commercial Production at its 100%‐owned Mt Morgans Gold Operation (MMGO) near Laverton in Western Australia.
The declaration, which was made on January 1, 2019, followed combined mining rates across the operation achieving Feasibility Study design levels during the December quarter.
Dacian is also pleased to report that gold production for the December quarter totalled 37,930oz, a significant increase on the prior quarter and in line with the Company’s guidance of progressively increasing production through FY19. Gold poured for the December quarter totalled 38,479oz.
Underground mining is now underway across all three declines at Westralia (Beresford South, Beresford North and Allanson). At the Jupiter open pit, higher-grade ore in the Cornwall Shear Zone is anticipated to be mined later in the March quarter.
This combined progress across the operation will support continued operational momentum and underpin further quarterly increases in production through the remainder of FY19.
Dacian Gold executive chairman and CEO Rohan Williams said the declaration of Commercial Production was another example of the company meeting its development and production targets.
“We are pleased to have achieved this important milestone – exactly when we said we would,” he said. “It was an outstanding quarter, with production increasing 30 per cent from the September quarter. Again, this ramp-up is in line with our stated objective of materially increasing quarterly production levels over the course of FY2019.”
At the end of the December quarter, Dacian had $85.6 million in cash and bullion (versus $82.1 million at the end of the September quarter).
Source: Company Press Release