Austral Gold: Q3 2019 Activity Report
Elemental Royalties Limited, (“Elemental”), a private company expanding a diversified portfolio of mineral royalties, is pleased to comment on the recent Q3 2019 activity report announced by Austral Gold Limited (“Austral”). Austral is the operator of the Amancaya gold mine located in Chile, on which Elemental holds a 2.25% NSR royalty.
Elemental is pleased to note another solid quarter from Austral, where during Q3 the Guanaco / Amancaya mine complex continued its strong performance with 17,879 gold equivalent ounces produced.
- The Guanaco and Amancaya Mine complex had a solid operational performance during Q3 2019. Quarterly production reached 17,879 gold equivalent ounces (16,273 gold ounces and 136,867 silver ounces) – a 16% increase from the September 2018 quarter and a 2% decrease from the June 2019 quarter.
- Operational margins and cash generation remained strong with quarterly Operating Cash Cost (C1) and all-in-sustaining cost (AISC) at US$617 and US$810 respectively per gold equivalent ounce. C1 and AISC decreased by 14% and 15% respectively from the June 2019 quarter. The average selling price for the September 2019 quarter was US$1,471/oz reflecting the upward trend of the price of gold.
Elemental is pleased to note that the higher production values result mainly from higher throughput at Amancaya as a result of better mine equipment availability, coupled with higher gold grades and increased recoveries. The Company also notes that production guidance for the Guanaco / Amancaya complex remains at 70-75,000 gold equivalent ounces with operating cash costs and AISC estimated at US$700-800/Oz and US$950-1000/Oz respectively.
The text above is Elemental Royalties’ comment to the operator’s news release and is not included within the original release. The original article is available using the links below.
|Original Article: https://www.australgold.com/news-releases/|
|Download PDF: https://www.australgold.com/wp-content/uploads/2019-September-30-Quarterly-Activity-Report.pdf|
About Elemental Royalties Limited
Elemental is a private company providing investors with exposure to a dividend-paying royalty company building a diverse portfolio of mining royalties, benefiting from ongoing royalty revenue, future exploration upside and low operating costs.
Since early 2017 Elemental has assembled a portfolio of five royalties over seven commodities in four countries, four of which cover producing mines. Immediate cash-flow has enabled the Company to limit dilutive fund-raisings to facilitate royalty acquisitions, and to pay a dividend from inception.
Elemental’s focus remains on securing royalties over advanced assets with established operators and credible counter-parties from a robust pipeline of potential royalty acquisitions across commodities and geographies.
For further information you are invited to visit the Company’s website www.elementalroyalties.com or contact:
|Elemental Royalties Limited|
|Frederick Bell: Managing Director||T: +44 (0) 203 434 633|
|M: +44 (0)755 487 2794|
|Greg Owen: Corporate Development Manager||T: +44 (0) 203 434 633|
|M: +44 (0)7887 554 316|
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