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Mining group Pure Gold Mining forecast higher output in 2022 after it achieved record production in July that underpinned its guidance for the second half of 2021.
Gold output for the six months through December was expected to be in the range of 27,000 to 32,000 ounces, with grades and throughputs increasing steadily toward the end of the year, the company said.
Daily throughput averaged 703 tonnes per day for the month of July, a 38% improvement compared to the second-quarter average.
Cash costs for the fourth quarter, the first full quarter of commercial production, were expected to be in the range of $1,025 to $1,125 per ounce, with all-in sustaining costs of $1,600 - $1,750 per ounce.
'Looking forward into 2022, production is expected to increase and cash costs and AISC are expected to fall significantly driven by higher grades and throughput coupled with decreased investment in capital development and other sustaining capital programs,' Pure Gold said.
'This dynamic of increasing production and falling costs is expected to continue throughout 2022 and beyond as grades generally improve as mining progresses deeper and toward the 8 Zone as outlined in the 2019 feasibility study.'