Ban Houayxai Gold-Silver Operation
The Ban Houayxai Gold-Silver Operation is located approximately 25 kilometres west of PanAust's Phu Kham Copper-Gold Operation.
Commencing production in 2012, Ban Houayxai comprises an open-pit mine feeding ore to a conventional carbon in leach and gravity recovery process.
Above budget production was achieved at Ban Houayxai in 2018.
Total material mined was 15.8 million tonnes (Mt) and included 5.0Mt of ore. Over 5.3Mt of ore was processed; 19 per cent above nameplate capacity.
The Operation poured 108,570 ounces (oz) and 666,628oz of gold and silver in doré. The average C1* cost after silver credits was US$726/oz of gold. An all-in sustaining cost (AISC**) of US$931/oz gold was realised.
In October 2018, the Operation retained its Caterpillar 5-star contamination control ratings for its mobile maintenance workshop and associated supply facilities. This was the sixth consecutive year Ban Houayxai achieved this highest rating.
Ban Houayxai was designed in accordance with the International Cyanide Management Code (the Code) - a voluntary program for the responsible manufacture, transport, use and disposal of cyanide in the production of gold. The Operation received pre-operational certification in 2012, operational certification in 2013, and was recertified in 2016.
In 2013, PanAust received the Project Development of the Year Award at the Mines and Money Hong Kong Asia Mining Awards. The accolade recognised the application of outstanding project management during the development of the Ban Houayxai Gold-Silver Operation.
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