OurBusiness_BHX_16052016

Ban Houayxai Gold-Silver Operation

The award-winning Ban Houayxai Gold-Silver Operation is located approximately 25 kilometres west of Phu Kham and comprises an open-pit mine feeding ore to a conventional 4 million tonnes per annum carbon in leach (CIL) process plant.

Excellent production and cost performances were achieved at Ban Houayxai for the full 2016 year with new annual records set for gold production, open-pit material mined and costs. A total of 127,825oz of gold and 1,101,393oz of silver was produced (poured) at Ban Houayxai in 2016. The C1* cost after precious metal credits of US$450/oz gold shattered projected costs for the year and an AISC** of US$662/oz gold was achieved.

December quarter 2016 production

The Ban Houayxai Gold-Silver Operation produced 26,735oz gold and 206,614oz silver at a C1* cost of US$590/oz after silver credits. An all-in sustaining cost (AISC**) of US$873/oz gold was achieved.

Sales during the quarter totalled 20,184oz of gold and 156,754oz of silver.

Award-winning operation

In March 2013, PanAust received the Project Development of the Year Award at the Mines and Money Hong Kong Asia Mining Awards, in recognition of outstanding project management for the development and construction of the Ban Houayxai Gold‑Silver Operation.

Also in March 2013, the Ban Houayxai Operation received a five‑star rating from Caterpillar Inc. for its Mobile Maintenance and Mobile Warehouse facilities. The rating is one of only six worldwide and the first in a developing country.

For the most up-to-date information about the Ban Houayxai Operation (including production costs), see the quarterly reports and other statements on the Company Announcements page.

 

*Brook Hunt convention for the reporting of direct costs comprising: mine site, product transportation and freight, treatment and refining charges and marketing costs; based on payable metal content after by-product credits

**AISC reported are the C1 cost plus royalties, allocated corporate support charges, shared services costs, sustaining capital; lease principal and interest charges; and deferred mining and inventory adjustments capitalised