Meeka lifts gold output as underground operations ramp up - Australian Mining

AI desk brief

Meeka Metals said September-quarter gold output rose 13% to 7,237oz from 6,424oz, as ore from Andy Well underground came in about one-third above reserve grade and helped lift feed grades. The plant processed 150,000t at 95% recovery, hitting an annualised 600,000t run-rate, while underground ore contributed 36,000t of high-grade material versus 94,000t from open-pit stockpiles.

Management said Andy Well’s underground horizon has now produced 129,000t at 3.1g/t for 12,800oz, compared with a reserve grade of 2.9g/t, and a second underground mine at Turnberry has begun development. Cash rose to A$51m from A$38m after a A$40m institutional placement at 10c/share, funding Turnberry, growth drilling, working capital and deferred consideration tied to the Mt Holland acquisition.