The Mineral Hill Mine in central New South Wales continues to deliver for Aussie gold stock Kingston Resources Ltd (ASX:KSN) after it reached a new daily production record in February.
The gold mine churned out 49 gold ounces in a single day, bringing the month’s production total to 1,370 ounces.
Weighed against a A$1,626-per-ounce all-in sustaining cost and the A$2,687 gold price, Kingston says this was a “stellar” production result — particularly encouraging in a short month like February.
With a new benchmark set for daily production, shareholders will be eager to see what Kingston and Mineral Hill can deliver over March.
February production metrics.
Kingston Resources managing director Andrew Corbett said the February figures built on a track record of strong performance.
“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,” he explained.
“With over a year of tailing processing remaining, we are well placed to build momentum at Mineral Hill.
Corbett continued: “We expect to extend mine life from the current open pit and underground resources with a targeted strategy to identify potential new mining areas.
“We look forward to providing more detail on the pending Mineral Hill life of mine plan and we are confident this will demonstrate the upside at Mineral Hill.
“Today, Mineral Hill is a gold producer, soon to be followed by copper and other critical minerals production.”