September Quarterly Activities Report

Download September Quarterly Report & 5B here

September Quarter Highlights

  • Focus entered into a Share Subscription Deed with Shandong Gold International Mining Corporation Limited (“Shandong Gold”), under which Shandong Gold has agreed to subscribe for new fully paid ordinary Focus shares to raise approximately $225 million.
  • Focus posted record production in the September Quarter of 48,959oz, up from 48,222oz in the preceding Quarter, at a Group cash cost of $1,267/oz.
  • Focus had record gold sales for the September Quarter of 49,383oz, generating Group revenue of A$76.7 million at an average selling price of $1,553/oz.
  • Laverton Operations produced 25,786oz from 44 processing days, taking Laverton gold output to 74,874oz for the nine months of calendar 2012, a 23% uplift on the previous corresponding period.
  • Coolgardie Operations produced 23,177oz of gold, the second strongest Quarter of Calender 2012.  However, stoping issues at The Mount underground negatively impacted cash operating costs offsetting positive gains that had been achieved across the wider Coolgardie operations.
  • Focus announced a revised combined Mineral Resource of at 59.1Mt @ 2.2g/t for 4.3Moz of contained gold, and an Ore Reserve of 7.6Mt @ 2.1g/t for 514,000oz of contained gold.
  • Exploration programs at Dreadnought in Coolgardie and Euro in Laverton have both returned strong results.
  • Capital investment and exploration expenditure was $4.7 million, comprising $2.1 million of mine capital development and $2.6 million in exploration.
  • At the end of the Quarter total cash and equivalents (including bullion) was $10.4 million.
  • Production in the December Quarter is targeted to range between 40-45,000oz with the transition from mining to the low-strip ratio Burtville open pit in Laverton and Greenfields Open Pit in Coolgardie.
This entry was posted in ASX Announcements, Company Reports, News. Bookmark the permalink.

Comments are closed.