eBusiness Weekly
Tawanda Musarurwa Business Weekly Reporter
Chegutu-based gold producer, Pickstone Peerless Mine’s gold output for the three months to June 301, 2018 jumped 10 percent 6 969 ounces from 6 326oz in the first quarter.
The Pickstone-Peerless mine delivered a 56 percent increase in tonnes of ore mined to 101 706 tonnes, compared with 65 342t in the first quarter.
The Pickstone Peerless Gold Mine is owned by AIM-listed diversified miner Vast Resources.
It recorded a 23 percent increase in tonnes of ore milled to 98 899t, compared with 80 639t in the first quarter. But, the milled gold grade decreased 11 percent quarter-on-quarter to 2,48g/t, from 2,78g/t.
The plant is producing at a steady state of about 30 000t/m. Gold sales increased 3 percent to to 6,754 ounces.
Vast Resources CEO Andrew Prelea on the second quarter performance said: “I am delighted with Vast’s performance in the second quarter 2018, which has seen us translate the initiatives undertaken in previous months into a sustainable foundation for production growth moving forward,” said Chief executive Andrew Prelea.
“These are very positive times for Vast as we improve efficiencies and profitability at our current assets while preparing to bring new revenue streams on line for the company and continue looking at new opportunities to expanding the business in order to create value for shareholders,” added Prelea.
Meanwhile, Vast Resources CEO Andrew Prelea said the group’s expansion initiatives in Zimbabwe are progressing “encouragingly”.
