Doray to produce up to 120,000 oz of gold in FY17

Company News

by David Chau

Doray Minerals Ltd (ASX:DRM) says it has commenced production of gold and gold-copper-silver concentrate at its Deflector Project in Western Australia.

The company confirmed that open pit mining is continuing, with potential for additional oxide ore.

Doray also says underground development is progressing on schedule, with ore drive development expected to start by the end of the September quarter.

The company has also offered interim production guidance for its Andy Well and Deflector Project. The company expects them to produce gold in the range of 105,000 to 120,000 oz for the 2017 financial year.

Doray reported a net profit of $14.5 million at 31 December 2015.
 

David Chau

Finance News Network
David joined FNN in April 2016. In addition to presenting the Market Outlook and latest business news stories, David interviews senior economists and CEOs of ASX-listed companies. Prior to working for FNN, David was a litigation lawyer.