Business
CGA Mining Limited - September Quarterly Activities Report
CGA Mining Limited - September Quarterly Activities Report
About this update from Alaska Hydro Corp.
[{"type":"text","content":"\n\n\n\nOct. 28, 2009 (Canada NewsWire Group) -- PERTH, Western Australia, Oct. 28 /CNW/ --HIGHLIGHTS- Production increased by 130% to approximately 30,000 ounces for thequarter.- Plant is now materially exceeding design expectations - currentthroughput at approximately 600dth (design 500dth).- On track to achieve steady state production during the Decemberquarter.- Ball Mill No.2 successfully commissioned in mid September.- Plant availability increased from 73.8% to 93.5%.- Metallurgical recovery increased from 76% to 82.1%.- Safety - zero LTI's for the September quarter.- Average realised gold sale price of US$964/ounce.- Significant high grade drilling results announced in the quarter atthe Segilola Project.- Cash on hand at 30 September was US$14.5M.- Successful placement of C$25M - due to close end of October.MASBATE PROJECT UPDATE----------------------Production Summary-------------------------------------------------------------------------CashOper-atingAverage Plant Total CostsOre Grade Ore Head Reco- Avail- Prod- (BeforeMined Mined Milled Grade very ability uction taxes)(t) (g/t Au) (t) (g/t Au) (%) (%) (oz Au) (US$/oz)-------------------------------------------------------------------------SeptemberQuarter 764,665 1.65 839,503 1.37 82.1 84.6 29,751 578-------------------------------------------------------------------------The operating statistics during the quarter reflect a continued focus on commissioning and production ramp up. With Ball Mill No. 2 only being commissioned late in the quarter, feed to the plant reflected in part a selection and mix of ore to ensure the grinding circuit was optimised with blends focused on achieving throughput and grind.Overall cash operating costs per tonne milled for the month of September were US$19.71/t and for the quarter US$21.37/t.Cash operating costs per ounce were impacted by the large amount of pioneering work undertaken during the quarter, the feeding of low grade stock piles whilst additional mining faces were established and the lower throughput rates (prior to the commissioning of Ball Mill No.2 late in the quarter).Steady state production is expected to be achieved in the December quarter.Commissioning UpdateThe Masbate plant throughput continued to increase during the quarter, with a progressive improvement in mill availability. Ball Mill No.2 was successfully commiss...