🕐05.04.12 - 14:27 Uhr
VILLAGE ANNOUNCEMENT: VILLAGE MAIN REEF PRODUCTION PERFORMANCE FOR MARCH 2012 QUARTER
Press announcement
5 April 2012
Village production performance for March 2012 quarter
Village today announces that a total of 38 508 ounces of gold and 909 tons
of antimony were produced during the March 2012 quarter.
Gold production for
the quarter was 5% or 65kg (2 021 oz) less than the forecasted gold
production for the quarter as detailed in the SENS announcement released on
16 February 2012 and 14% or 197kg
(6 118 oz) less than the production achieved during the December 2011
quarter.
Gold production at Tau Lekoa yielded a 1% or 5kg (184oz) improvement than
what was forecast largely due to increased production tons from underground.
Gold production at Buffelsfontein was 18% or 63kg (2 076oz) lower than
forecast.
Production volumes were impacted from hoisting problems at its
high grade number 2 shaft and certain production panels were also stopped at
7 shaft, due to a fall in head grade below the pay limit.
This affected the
mining mix and overall gold yield at Buffelsfontein.
Gold production at Cons Murch was 6% or 4kg (130oz) lower than forecast due
to lower than expected plant recoveries.
Antimony production was negatively
affected by lower volumes from the higher grade antimony shafts, due to a
winder breakdown and some mine wide safety stoppages experienced mid-way
through the quarter.
The table below provides more information of the production achieved at each
of the Village mines during the March 2012 quarter versus the December 2011
quarter and production guidance released in February 2012.
March
quarter
December quarter
% change
Production guidance
% change
Tau Lekoa - gold oz
26 934
28 773
↓ 6%
26 750
↑ 1%
Buffelsfontein - gold oz
9 433
13 634
↓ 31%
11 509
↓ 18%
Cons Murch - gold oz
2 141
2 219
↓ 4%
2 271
↓ 6%
Cons Murch - antimony tons
909
837
↑ 9%
1 200
↓ 24%
Village CEO Bernard Swanepoel commented: “At Tau Lekoa, we have started to
witness the rewards of the optimization project which positively impacted
production, notwithstanding the effect of the Christmas break.
At
Buffelsfontein and Cons Murch, additional challenges were experienced which
affected our production volumes.
We have taken the necessary steps and
anticipate that production at these operations will return to normalized
levels during the June quarter.”
Operational and financial details for the March 2012 quarter (FY 2012) will
be provided in the March 2012 Quarterly Report, which is expected to be
released on SENS towards the middle of May 2012.
Contacts:
Village CEO | Bernard Swanepoel | | 083 303
9922
Vestor | Media and Investor Relations | Louise Brugman |
| 011 787 3015 | 083 504 1186
Logo_sharper02
media & investor relations
louise brugman
managing director
Tel: +27 (0) 11 787 3015
Cell: +27 (0) 83 504 1186
skype louise.brugman
Email:
Web: www.vestor.co.za
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