Kingsgate production shines

Company News

Kingsgate Consolidated’s Limited (ASX:KCN) gold production lifted by 7 per cent in the December quarter to over 54,500 ounces.
The gold miner says it had a strong operating performance with costs cut by 12 per cent in the three months to December 31, compared to the previous quarter.
Kinsgate says it’s on track to achieve its full year production targets, with output likely to be at the top end of guidance.
The company says it continues to focus on operating efficiencies given the volatile operating environment for gold producers.
Gold sales for the quarter were 52,813 ounces at an average gold price of US$1,285 per ounce.
Kingsgate booked a net loss of $323.7 million in fiscal 2013.