- Kingston Resources (KSN) achieves record daily production at its Mineral Hill gold and copper mine in New South Wales
- During February, the company produced 1370 ounces of gold at an AISC of $1626 per ounce
- That amounts to a monthly record average of 49 ounces per day, with processing recoveries at 63 per cent for the month
- Meanwhile, the average gold price received over February was just under $2700 per ounce
- Shares in KSN are up 4.8 per cent, trading at 8.7 cents at 12:45 pm AEDT
Kingston Resources (KSN) achieved record daily gold production in February at its Mineral Hill gold and copper mine in New South Wales.
The company produced 1370 ounces of gold during the month, posting a monthly record average of 49 ounces per day.
Kingston Managing Director Andrew Corbett said the figures recorded in February continued to build on the company’s “great performance” over the year.
Mr Corbett added that the company’s all-in-sustaining costs (AISC), totalling $1626 per ounce was a highlight, with the gold price received for the month averaging $2687 per ounce.
“Our focus on self-performing and owner mining approach is helping to maintain a stable cost base and deliver a strong margin from the tailings project,” Mr Corbett said.
“With over a year of tailing processing remaining, we are well placed to build momentum at Mineral Hill.”
Kingston plans to extend the mine’s life, identifying new mining areas and utilising the upside at Mineral Hill.
“Today, Mineral Hill is a gold producer, soon to be followed by copper and other critical minerals production,” Mr Corbett added.
Shares in KSN were up 4.8 per cent and trading at 8.7 cents at 12:45 pm AEDT.