- Firefinch’s (FFX) Morila Gold Mine hit a gold production record in the month of June at 5019 ounces produced
- That represents a 21 per cent increase on the previous highest record, with the quarterly production rate hitting the upper end of FFX’s guidance
- FFX bought the mine late last year and says the strong gold production is due to the recommencement of mining the satellite pits
- The company is forecasting an increased gold production of 13,000 ounces to 15,000 ounces in the upcoming quarter
- Firefinch shares are up 2.56 per cent at 40 cents per share at 10:23 am AEST
Firefinch’s (FFX) Morila Gold Mine has hit a gold production record in the month of June, with a total of 5019 ounces produced.
FFX bought the mine in Mali late last year and said last month’s gold record represented a 21 per cent increase on the previous highest record.
The quarterly production from Morila between April and June was 12,555 ounces of gold, which is a new record from the company and towards the upper end of previous guidance.
FFX has credited the production figures towards the recommencement of mining the satellite pits as well as the refurbishment of the comminution circuit.
It said there had been a significant increase in recoveries, up from 50 per cent to 75 per cent, as more satellite ore was treated instead of tailings material.
Firefinch Managing Director Michael Anderson said he expects the positive trend to continue, with an increased gold production of 13,000 ounces to 15,000 ounces forecast for the upcoming quarter
“These latest production figures clearly demonstrate the benefits of recommencing mining and processing of the satellite ores,” Mr Anderson said.
“We expect the positive trend in production to continue as we access Viper and enjoy a full quarter of operating the successfully recommissioned processing circuit.”
Firefinch shares were up 2.56 per cent at 40 cents per share at 10:23 am AEST.