NORTON BREAKS PRODUCTION RECORD

Written on the 22 January 2014

NORTON BREAKS PRODUCTION RECORD

NORTON Gold Fields (ASX: NGF) produced a record amount of gold last calendar year at its West Australian mines.

Production of 42,616oz in the December quarter put the total amount at 172,739oz, a substantial improvement on the previous record of 151,000oz produced in 2012.

Production costs dropped to $883/oz for the quarter, a figure the company has been consistently reducing over the past two years.
Norton Gold Fields Limited Managing Director and Chief Executive Officer Dr Dianmin Chen is pleased with the “strong” result, which exceeded production guidance.

“Driving the improvement has been increased mill feed grades from across our operations along with a strict cost control regime,” he says.

“2013 was an environment of falling gold prices which saw many WA mid-tier gold mining companies become unprofitable.

“Norton’s strong management group was successful in adapting our business to this threat and as a result Norton has become a disciplined and profitable gold mining company for its many stakeholders”.

NGF is in a cost-cutting phase, which is set to continue this year.

Meanwhile, haulage of ore commenced from the Enterprise Mine, signifying the first delivery from the Paddington Operations new base load mine and the company also completed the purchase of the Lady Bountiful tenement.

Norton shares are down 10.71 per cent at $0.125 this morning.


Latest News

KOPLOVITZ GIVES SPRINGBOARD TO AGILE ENTREPRENEURS

FOR Kay Koplovitz, the key to being a successful entrepreneur is an agile mind - one that is always learning and q...

VITA GROUP SHARES SURGE UPON RESULTS

VITA Group (ASX: VTG), the Brisbane telco retailer tied up with Telstra (ASX: TLS), saw its share price surge 12 p...

SONAND TURNS THE TIDE AT SURFSTITCH

SURFSTITCH (ASX:SRF) has reduced its losses in the first half of FY17 as new CEO Mike Sonand executed his turnaround ...

EUREKA IMPROVES WHILE MANAGEMENT REMAINS UNIMPRESSED

EUREKA Group has collected the gains on its 'buy and build' strategy to achieve a net profit of $6.29 mill...

Related News

KOPLOVITZ GIVES SPRINGBOARD TO AGILE ENTREPRENEURS

FOR Kay Koplovitz, the key to being a successful entrepreneur is an agile mind - one that is always learning and q...

FASHION RETAILER'S TAKEOVER IN DOUBT AS PROFIT CLIMBS

IN the thick of takeover talks, Specialty Fashion Group (ASX: SFH) worked hard to cut costs and see its bottom lin...

HOW TO TAKE CONTROL OF YOUR CAREER THROUGH TRAINING

GIG economy, remote working, and freelance Friday are more than just buzz terms; our workforce is changing, and so...

EVERYTHING YOU NEED TO KNOW ABOUT THE NATIONAL BROADBAND NETWORK

THE National Broadband Network (NBN) is more than an internet connection, it is an opportunity to transform your b...

Contact us

Email News Update Sign Up Contact Details
Subscriptions

PO Box 2087
Brisbane QLD 4001

LoginTell a FriendSign Up to Newsletter