Total production since start-up now amounts to around 3,300 ounces of gold and 21,300 ounces of silver.
Recoveries of gold and silver remain significantly higher than expected, running respectively at 94% and 79%, against feasibility study expectations of 86% and 64%.
The grade of ore mined in July has run at around 4 grammes per tonne gold and 40 grammes silver, which is higher than forecast. It’s now expected that grades will be maintained at this level over the next 6 months.
As a result of all this, loan repayments to Turkiye Katilim Finans Bankasi A.S. have been made on the scheduled basis and have amounted to over US$4.2mln as at the end of July 2017.
Calendar year 2017 production guidance lies within a range 10,100 to 11,900 ounces of gold and 103,500 to 106,500 ounces of silver.
“We remain very encouraged by the performance of all aspects of the operation, especially during July when doré output considerably exceeded forecast,” said managing director Dr Kerim Sener.
“Following sustained high-rate mill throughput, we have now achieved a production rate above our feasibility plan and the transition in to commercial production is complete.”