Firefinch’s December gold output is a gift… and there’s more to come
Link copied to
Firefinch continues to enjoy strong gold production from its Morila gold mine as it continues to progress the ramp-up towards output of 100,000oz per annum.
The company recorded production of 4,788oz in December, the second highest monthly level of production since the mine was acquired in late 2020. Output of 11,115oz of gold in the December quarter was at the upper end of guidance (10,000oz to 11,500oz).
This is certainly encouraging with gold prices still holding above the US$1,800/oz level while full-year production for 2021 of 45,800oz is also in line with its plans.
Firefinch (ASX:FFX) adds that production is now underpinned by ramped-up mining at the satellite pits where two mining contractors are fully mobilised. Haulage operations to the gold plant have also been established.
“These latest production figures are consistent with our expectations, and at the upper end of guidance,” managing director Michael Anderson commented.
“Initial pre-strip at Viper is complete and the Viper pit has developed nicely with our mining contractors now operating consistently and steadily increasing haulage capacity.
“Known satellite pit feed will continue to feature prominently in the Q1 2022 production plan as we continue to advance the pre-strip at the Morila Super Pit. Now that we’ve commenced mining Morila the Gorilla, the real value will start to flow in 2H2022 once we’re feeding the plant with Morila ore.”
Pre-strip at the Morila Super Pit, which has a substantial Measured, Indicated and Inferred resource of 1.86Moz at 1.5g/t, started on schedule during the first week of January while extension drilling is continuing at both the Super Pit and the satellite pits.
The company’s drilling has already outlined the potential for further growth after identifying a new high-grade zone down dip and along strike from the resource not contained within the mine plan or resource.
This article was developed in collaboration with Firefinch, a Stockhead advertiser at the time of publishing.
This article does not constitute financial product advice. You should consider obtaining independent advice before making any financial decisions.