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Beadell Resources produces 55,000 ounces of gold in December quarter

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Beadell Resources (ASX:BDR) has produced 55,000 ounces of gold in the December 2014 quarter at all-in sustaining costs of between US$595 and US$615 per ounce of gold from its operations in Brazil.

This includes a monthly record production of 31,000 ounces in December.

Total gold sales for 2014 were about 166,000 ounces, or 7% below the lower end of guidance of 180,000 ounces of gold.

This is due to the timing of the mining and processing of the very high grade Duckhead ore, which has been deferred to mid-January due to the complexity of mining this pit on a neighbouring tenement, controlled by a third party.

This will result in 8,000 ounces of additional gold from this source at very low strip ratio coming into January’s sales.

In addition, due to the high gold ore grades processed in late December, gold bullion in the safe and above normal gold in circuit attributable to December 2014 production, another 7,000 ounces will be added to January’s gold sales.

Beadell expects to record gold sales of about 180,000 ounces of gold in 2015 at an average grade of 1.4 grams per tonne gold.



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