FML Quarterly Activities Report, June Quarter

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  • Record June Quarter gold production of 48,222oz, up from 47,489oz in the preceding Quarter and delivering on guidance.
  • FY 2012 Group gold production 176,632oz, up 140% on FY 2011 (72,830oz) at a Group C1 cash cost of $1,222/oz.
  • June Quarter Group revenue of A$77.3 million from gold sales of 48,514oz.
  • Coolgardie Operations delivered one of its strongest production Quarters on record producing 24,766oz of gold, a 13% increase on the March Quarter.
  • Laverton produced 23,456oz from 41 processing days, taking Laverton gold output to 49,092oz for the first six months of calendar 2012.
  • Strong production at the Tindals underground, along with continued growth at the Tindals Open Pits and solid stoping production at The Mount underground resulted in the Coolgardie operations mining a total of 301,257t @ 2.99g/t containing 28,916oz of gold, a 30% increase on gold mined in the preceding Quarter.
  • The Coolgardie Three Mile Hill plant turned out its 1,000th gold bar under Focus’ management (3 July 2012).
  • Laverton C1 cash operating costs were $1,203/oz, down from $1,554/oz in the September 2011 Quarter after which Focus took full control.
  • Coolgardie C1 cash operating costs were $1,189/oz.
  • Under Focus’ internal Value Enhancement Program, a number of cost reduction initiatives were introduced at both Laverton and Coolgardie during the Quarter which are expected to positively impact cash operating costs in the September and December Quarters.
  • Capital investment and exploration expenditure was $26.1M, comprising $21.7M of mine capital development and $4.4M in exploration.
  • At the end of the Quarter total cash and bullion equivalents were $19.5M.
  • Subsequent to the end of the Quarter, Focus has produced 23,127oz from Coolgardie and Laverton for the Month of July.
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