Caracal Gold PLC (LSE:GCAT) sold 569 ounces of gold produced from its Kilimapesa mine in Kenya during September.
Operating costs per ounce produced rang in at US$985.
The company continues to build production at Kilimapesa, following a fundraising in London undertaken in August.
Underground mining operations during September focused on development of the reef drive and new raises to open up new stoping areas to meet the planned increased level of run-of mine production.
New underground equipment including rails and box fronts was also acquired.
Meanwhile, mining activities continued at the Bull and D Adits with ROM ore transported to the gold processing plant throughout September and work commenced on the re-opening and refurbishment of Adit B to access previously identified ore.
Overall, the ongoing recapitalisation of the underground mining operations is progressing according to budget and remains on schedule to meet the planned increased level of run of mine production.
The ongoing optimisation of the gold processing plant is designed to achieve steady state throughput of over 700 tonnes of ore per day, and is progressing according to plan.
The monthly gold production rate should hit 1,000 ounces by the end of the fourth quarter.
Exploration activities are also underway, with recent results including 40 metres at 4.85 grams per tonne from trenching.
"Our successful London Stock Exchange listing and simultaneous capital raise has allowed us to plough ahead with an aggressive development plan at our flagship producing Kilimapesa mine, which will double gold production to 1,000 ounces by the end of Q4 and strengthen our resources,” said Robbie McCrae, chief executive of Caracal.
"Accordingly, we are delighted with our recent achievements, including refurbishment and replacement of plant and equipment, replenishment of inventories, escalating production and increasing sales.”