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Via ASX Online
FOR PUBLIC RELEASE
Manager
Companies Announcements Office
Australian Securities Exchange
Chatree Mine Recommences Gold Production
Kingsgate Consolidated Limited (Kingsgate) is pleased to announce that the temporary suspension order on the Chatree Mine has been lifted and operations resumed late on Friday 27 February. The mine is ramping up quickly to full capacity with the first gold pour expected today, Monday 2 March.
The shutdown period was used to undertake major maintenance tasks which were scheduled for later in the year thus reducing future downtime. With the strong December half year performance and flexibility in the current mining areas at Chatree, Kingsgate believes that Chatree is still likely to achieve full year gold production guidance.
Kingsgate has been working closely with the Thai authorities and the local community and has satisfied all their requests around the issue of slightly elevated arsenic and manganese levels identified in some local inhabitants during regular screening. This has included health checks and lifestyle education programs with a commitment to continue to assist with ongoing management of this community health issue.
Kingsgate commissioned a major environmental report by independent international and Thai scientific experts that confirmed that the Chatree Mining Operation was not the source or cause of the slightly elevated arsenic and manganese levels. The report was delivered to the Department of Industry and Mining (DPIM) and presented to the local authorities and the communities.
The strong position that Kingsgate finished the December half year has enabled it to comfortably cover the period of the stoppage at Chatree with only minimal effect on its financial position. On the date the temporary suspension order was implemented, available cash was around A$67 million. When the suspension was lifted, available cash was of the order of A$60 million and this was after a scheduled debt repayment in February and other working capital adjustments.
Kingsgate requests that the voluntary suspension of its securities be lifted by ASX with immediate effect and that trading in the Company's shares recommence today, Monday 2 March 2015.
Ross Smyth-Kirk
Executive Chairman
Kingsgate Consolidated Limited
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Kingsgate Consolidated Ltd
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PRODUCTEUR |
CODE : KCN.AX |
ISIN : AU000000KCN1 |
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Kingsgate est une société de production minière de zinc et de plomb basée en Australie. Kingsgate est productrice de zinc, de plomb, d'argent et d'or en Thailande, en développement de projets d'argent, de plomb et de zinc en Australie, et détient divers projets d'exploration en Australie. Son principal projet en production est CHATREE en Thailande et son principal projet en développement est BOWDENS en Australie. Kingsgate est cotée aux Etats-Unis D'Amerique, en Australie et en Allemagne. Sa capitalisation boursière aujourd'hui est 364,4 millions AU$ (237,9 millions US$, 222,3 millions €). La valeur de son action a atteint son plus haut niveau récent le 07 janvier 2011 à 9,90 AU$, et son plus bas niveau récent le 21 octobre 2016 à 0,13 AU$. Kingsgate possède 223 580 000 actions en circulation. |