Sydney-based Thai gold producer Kingsgate Consolidated Ltd
(ASX:KCN) has reported gold production of 30,456 ounces for its June quarter.
The result was down on the March quarter and lower still than the 43,036 ounces produced in the fiscal 2009 June quarter.
Annual production for the 2010 financial year was 132,628 ounces of gold, in line with forecasts.
The expansion of ore processing capacity to 5 million tones per annum was approved in June after receiving approval for investment incentives.
Total cash in bank and bullion on hand was $51.5 million as at 30 June 2010, with no debt and an undrawn US$30 million debt facility.
Kingsgate Consolidated reported a profit of $32.52 million for the year ending 30 June 2009.
