Kingsgate Consolidated Ready To Unlock Chatree’s Potential With Two Plants

Kingsgate Consolidated Ltd (ASX: KCN) has been permitted to operate Plant #1 at its Chatree Gold Mine in Thailand.

This follows a successful inspection by the Department of Primary Industries and Mines.

Full commissioning of Plant #1 will commence immediately, followed by a ramp-up to full operations.

Meanwhile, Plant #2 continues to operate above expectations at an annualised rate of ~3.3 million tonnes per annum.

“Final piece in the puzzle”

Kingsgate’s Managing Director and CEO Jamie Gibson said: “This is an incredibly important milestone for our company and represents the final piece in the puzzle in the journey to rebuild the Chatree Gold Mine.

 “With both plants now operational, we are excited about unlocking Chatree’s full potential.”

Strong production

During the March quarter, Kingsgate produced 9,671 ounces of gold and 112,734 ounces of silver at Chatree.

This enabled the company to deliver 14 shipments of doré bars to Precious Metal Refining Co. Limited.

At the end of March, the company held 1,342 ounces gold and 17,995 ounces silver as doré inventory awaiting refining.

This doré is valued at A$5.6 million based on a gold price of A$3,604 per ounce and a silver price of A$42 per ounce.

Read: Kingsgate Consolidated Drills More Gold Ahead Of Chatree Plant Commissioning

Last month, Kingsgate intersected significant gold and silver in the Jorakae and Kumpee prospects, 7km northeast and 2- 3km east respectively of the Chatree Gold Mine.

Results at Jorakae include 19 metres at 1.18 g/t gold from 20 metres and 7 metres at 0.67 g/t gold from 42 metres.

At the Kumpee prospect, significant intersections include 4 metres at 3.09 g/t gold from 59 metres.

The drilling results indicate that the mineralisation zones are generally medium-grade gold with narrow, high-grade zones up to 15.40 g/t gold.

  

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