Kaiser pulls $10M cash flow from Tassie gold venture for Q4
The company has significantly boosted revenue since assuming control of its recently purchased Henty gold mine in Tasmania, raking in an impressive $25.177 million for the June quarter.
Kaiser placed its hands firmly on the wheel at Henty on May 15, steering the operation to produce solid results for the balance of the quarter, after nabbing the profitable underground gold mine in western Tasmania from ASX-listed goldie Catalyst Metals.
Management locked-in the transformational acquisition by agreeing to pay Catalyst $15M in cash and $16.6M in shares, handing Catalyst a maximum 19.99 per cent stake in Kaiser.
Kaiser will further pay Catalyst 50 ounces of gold per month capped at 3000 ounces and a 0.5 per cent royalty on gold produced from the Darwin Target Zone, after being in control of the operation for six months.
'This has been a transformational quarter for Kaiser, headlined by the acquisition of the Henty gold mine in Tasmania.'
Kaiser Reef managing director Jonathan Downes
The company produced 4069 ounces of gold at Henty from May 15 – June 30, generating revenue of $21.205m from the Tassie mine, against operating costs of just $10.147m, indicating the potential for future profitable operations at the site. All-in sustaining costs totalled $2951 per ounce of Tassie gold.
Its Maldon plant produced 756 gold ounces from mining at its existing A1 gold mine 120km east-northeast of Melbourne.
Kaiser plans to pump out more than 30,000 ounces of gold a year from Henty, 30 kilometres north of Queenstown, as it aims to reach its stated goal of a total 50,000 ounces a year from its Tasmanian and Victorian operations.
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