January 29, 2010
Kagara Ltd updated mining at its Mungana and Mt Garnet mines in Queensland for the December 2010 quarter. Mt Garnet continued to perform well, with 54,145 tonnes grading 13.1% zinc and 0.4% copper mined. Development ore contributed 19,845 tonnes grading 15.8% zinc whilst stope ore production was 34,300 tonnes grading 11.5% zinc. The decline had advanced to 1,190 metres from the portal. As part of the strategy to reduce reliance on the main road system during the wet season the production schedule was increased to 20,000 tonnes per month from normal production rates of 12,000 tonnes per month. At Mungana underground ore production was 63,545 tonnes grading 12.2% zinc, 0.9% lead and 1.5% copper and was sourced from lenses BM1, BM2 and BME. Stockpiling of gold ore also increased to 60,373 tonnes grading 1.58 grams per tonne gold and 14,478 tonnes grading 1.71 grams per tonne gold was trucked from the Balcooma operations which brings the total gold stockpile to 74,851 tonnes at 1.61 grams per tonne gold and 21 grams per tonne silver. The Thalanga retreatment trial continued throughout the quarter, with 155,538 DMT of tailings grading 0.6% copper being treated for 572 tonnes of copper production. Performance ramped up as expected over the period with production marginally cash flow positive at US$2.86 per pound of payable copper.
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