Altona Mining: Outokumpu Production Record with Full Year Guidance Raised Again
(firmenpresse) - Altona Mining: Outokumpu Production Record with Full Year Guidance Raised Again
MARCH QUARTER PRODUCTION
Copper in concentrates 2,503 tonnes
Gold in concentrates 2,596 ounces
C1 cash cost US$1.30/lb of payable copper
• Production record - The March quarter copper production for the Outokumpu Project was up 23%. The exceptional performance resulted from mining the higher grade parts of the Wallaby zone. Mine production was 144,702 tonnes at 1.91% copper and 0.68 g/t gold for the quarter.
• Guidance increased again - Production guidance increased to 7,500-8,000 tonnes of copper and 7,500-8,000 ounces of gold for the year to 30 June 2013.
• Low cash costs - C1 cash cost of US$1.30 per pound of payable copper sold is below guidance. Year-to-date C1 cash costs are US$1.50 per pound. Cash cost guidance remains in the range US$1.40-1.60 per pound.
• Cashflow from operations - Including mine development,operating cashflow was A$5.8 million, up almost fivefold from A$1.2 million in the December quarter.
• Cash on hand - A$22.6 million plus receivables from concentrate sales of A$10.4 million at 31 March 2013. Cash at December quarter was A$22.6 million.
• Resources and Reserves - Outokumpu Reserves were updated in April 2013 to reflect a significant improvement in the copper grade at the Kylylahti mine which offset mining depletion and resulted in little change in contained metal.
• Roseby partnering - Altona has entered discussions with various parties, both domestic and overseas, to assist in financing the development of the Little Eva project. A number of parties have expressed interest and are reviewing the project data room.
ABOUT ALTONA
Altona Mining Limited (ASX: AOH) is an international base metals producer with a focus on copper.
The Company has two main assets:
The Outokumpu Project in south-east Finland comprising an underground decline mine and processing plant. Production commenced in 2012 and averages 8,000tpa of copper, 8,400ozpa of gold and 1,600tpa of zinc.
The Roseby Copper Project near Mt Isa in Queensland has a resource containing 1.52Mt of copper and 0.38Moz of gold. The first development envisaged is the fully permitted 7Mtpa Little Eva open pit copper-gold mine and concentrator.
Cash on hand (31-03-2012) A$22.6M
Market capitalisation (23-04-2013) at 19 cents per share A$100M
ASX: AOH
Frankfurt: A2O
Oslo: ALTM
Shares on issue: 528,937,704
Options on issue: 1,365,000
Share rights on issue: 9,792,749
Altona Mining Limited
ACN: 090 468 018
Ground Floor, 1 Altona Street
West Perth
Western Australia 6005
T: +61 8 9485 2929
E: admin(at)altonamining.com
W: altona(at)altonamining.com
To view the entire press release please follow the link:
http://www.irw-press.com/dokumente/ALTONA_Quarterly31_March_2013.pdf
Alistair Cowden
Managing Director
Tel: +61 8 9485 2929
altona(at)altonamining.com
James Harris
Professional Public Relations
Tel: +61 8 9388 0944
james.harris(at)ppr.com.au
Jochen Staiger
Swiss Resource Capital AG - Germany
Tel: +41 71 354 8501
js(at)resource-capital.ch
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