Lachlan Star Files Quarterly Report for the Period Ending 30 June 2014
29.07.2014 | Marketwire
PERTH, WESTERN AUSTRALIA -- (Marketwired - July 29, 2014) - Gold miner, Lachlan Star Limited ("Lachlan Star" or the "Company") (TSX:LSA) (ASX:LSA) is pleased to provide the following quarterly report for the period ending 30 June 2014.HIGHLIGHTS:
OPERATIONAL PERFORMANCE
- Zero Lost Time Accidents (LTA) during the quarter.
- Zero environmental incidents.
- Stable mining performance with total cost of tonnes stacked of US$15.58/tonne of ore and C1 cash cost of US$778 per ounce of gold produced, the C1 cash cost being consistent with performance levels of the previous two quarters and representing a 32% reduction on the prior year corresponding period.
- Positive operating cash flow before changes in non-cash working capital of A$1.06 million for the quarter and a total of A$12.64 million for the year ended 30 June 2014.
CORPORATE
- The remaining CDN$3.75 million Credit Facility with Sprott Resource lending Partnership "("Sprott") was renegotiated and the debt facility was converted into a twenty eight month gold loan, effective 30 June 2014.
- Subsequent to period end Anglo American Exploration (Australia) Pty Ltd ("Anglo American") gave notice to the Company that it had satisfied the minimum earn-in requirements in accordance with the Bushranger Exploration Farm-in and Joint Venture Agreement and exercised its right to form a Joint Venture with the Company.
To view the full announcement please click the link below:
http://www.lachlanstar.com.au/images/LSA_Quarterly_Report__2Q14_Final_290714.docx
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ABN: 88 000 759 535
Contact
Lachlan Star Limited
Michelle McAuliffe
+61(8) 9481 6006
michelle.mcauliffe@lachlanstar.com.au
www.lachlanstar.com.au