Weather conditions were not kind to miner Vast Resources PLC (LON:VAST) in Romania and Zimbabwe in the first three months of the year.
In Romania, Vast’s operations were hit by extreme cold, with temperatures of minus 30 Celsius being some 10 degrees colder than it is normally is, while in Zimbabwe the group struggled to overcome heavy rains.
Despite the extreme cold in Romania, Vast elected to keep its mine open, whereas some operators choose to close down during this period.
At the Manaila polymetallic mine, ore mined totalled 21,901 tonnes, down from 25,269 tonnes in the preceding quarter but up from 20,362 tonnes in the corresponding period of 2016.
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READ about the Manaila mine
Ore milled slipped to 20,291 tonnes from 22,510 tonnes the year before and 29,439 tonnes in the final quarter of 2016.
The mine achieved a milled copper grade of 0.79%, versus 0.96% in the same period of 2016, and a milled zinc grade of 0.76% (0.94%).
Vast said 526 tonnes of copper concentrate was produced at an average grade of 18.8%, compared to 822 tonnes at 17.2% the year before.
132 tonnes zinc concentrate produced at an average grade of 26.3% (March 2016: 0 tonnes).
“The fact that we managed to not only maintain production during this period but also achieved it during a year that experienced such extreme lows is a significant achievement,” said Roy Pitchford, chief executive (CEO) of Vast.
At the Pickstone-Peerless gold mine in Zimbabwe, 51,102 tonnes of ore were milled, down from 54,237 tonnes in the same period of 2016, as high rainfall hampered open pit mining operations.
READ about the Pickstone-Peerless mine
During the rainy period, lower grade areas in the open pit were mined as these remained accessible, while low-grade stockpiles were used to supplement volumes.
In total, 2,974 ounces of gold were produced, up from 2,808 ounces the year before.
CEO Roy Pitchford admitted it had been a tough quarter for Vast.
“Whilst seasonal changes are to be expected these extreme weather occurrences are unusual and of course temporary. Accordingly, we remain confident that the underlying quality and value prospects of our mines are excellent and expect production rates to increase going forward,” he said.
"The quantity and quality of the zinc concentrate production has already improved, with production during April consistently registering grades up to 45% at Manaila,” Pitchford revealed.
“Furthermore, remedial actions taken in March and capital expenditure planned for the current quarter will facilitate a consistent 15,000 tonnes per month mill feed during the September quarter.
“Positive progress has also been made to instal the gold and silver recovery circuit and once operational, targeted for H2 2017, will contribute to Manaila's revenue.
“Additionally, the experience gained during the period will be factored into future operational plans and the proposed new metallurgical complex to be sited at the Manaila open-pit mine,” Pitchford pledged.
Meanwhile, production at Pickstone-Peerless is returning to normal levels.
“Continued good progress on the sulphide processing facility promises further increased gold production at Pickstone-Peerless in Q3 2017, and longer-term, the development of the Giant gold mine provides the company with the ability to be a growing gold producer. We remain confident of the future opportunities ahead," Pitchford concluded.
Shares in Vast caught a chill in early trading, falling 0.032p to 0.472p.