Straits Resources is on track to reach full year production guidance of up to 100,000 ounces of gold equivalent for its Mt Muro gold project in Indonesia despite minor operational issues. It is also targeting production of 25,000 tonnes of copper in the current financial year from the Tritton mine is in New South Wales.
The Mt Muro project produced 25,000 AuEq ounce for the period of July 2012 to November 2012. It has revised its guidance for the current quarter to 12,000-13,000 AuEq ounces from 15,000 to 17,000 AuEq ounces. The drop comes after recent rain events and the waste movements are expected to recover during the second half.
Its full year guidance has been revised to between 95,000-100,000 AuEq ounces from 100,000 AuEq ounces,
The company is tracking a key objective of on-time and on-budget ramp up of the Mt Muro gold mine to full production in March 2013 in order to achieve production of 100,000 ounces AuEq in the current fiscal year.
It also is aiming to achieve 25,000 tonnes of copper production from Tritton in the current fiscal after initiating significant cost reduction and on site management changes.
Its current quarter copper production guidance at Tritton has also been revised lower to between 5000-5,500 copper tonnes from 6000-6500 copper tonnes due to delays in the past filling and stoping sequence.
