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Reviewed Results | Six months ended 30 June 2022

Review of Operations Review of operations

Quarter ended 30 June 2022 compared with quarter ended 31 March 2022

Figures may not add as they are rounded independently.

South Africa region

South Deep

    June
2022
March
2022
%
Variance
Ore mined 000
tonnes
451 364 24 %
Waste mined 000
tonnes
36 63 (43)%
Total tonnes 000
tonnes
487 427 14 %
Grade mined – underground reef g/t 6.05 6.32 (4)%
Grade mined – underground total g/t 5.60 5.39 4 %
Gold mined kg 2,728 2,303 18 %
  000’oz 87.7 74.0 19 %
Destress m     – %
Development m 2,889 2,817 3 %
Secondary support m 3,145 3,906 (19)%
Backfill m3 67,381 86,418 (22)%
Ore milled – underground reef 000
tonnes
415 345 20 %
Ore milled – underground waste 000
tonnes
22 57 (61)%
Total underground tonnes milled 000
tonnes
437 402 9 %
Ore milled – surface 000
tonnes
  327 332 (2)%
Total tonnes milled 000
tonnes
764 734 4 %
Yield – underground reef g/t 6.32 6.92 (9)%
Surface yield g/t 0.14 0.11 27 %
Total yield g/t 3.49 3.31 5 %
Gold produced kg 2,673 2,425 10 %
  000’oz 85.9 78.0 10 %
Gold sold kg 2,673 2,425 10 %
  000’oz 85.9 78.0 10 %
AISC R/kg 673,899   671,829 – %
  US$/oz 1,347 1,373 (2)%
AIC R/kg   705,902 705,316 – %
  US$/oz 1,410 1,441 (2)%
Sustaining capital expenditure Rm 454.8 356.4 28 %
  US$m 29.3 23.4 25 %
Non-sustaining capital expenditure Rm 85.5 81.2 5 %
  US$m 5.5 5.3 4 %
Total capital expenditure Rm 540.3 437.6 23 %
  US$m 34.8 28.7 21 %

Gold production increased by 10% to 2,673kg (85,900oz) in the June quarter from 2,425kg (78,000oz) in the March quarter as a result of higher underground ore mined in line with the Business plan with total tonnes mined increasing by 14% to 487kt in the June quarter from 427kt in the March quarter. Total gold mined increased by 18% to 2,728kg (87,700oz) in the June quarter from 2,303kg (74,000oz) in the March quarter mainly as a result of higher reef tonnes due to increased production volumes.

Reef yield decreased by 9% to 6.32g/t in the June quarter from 6.92g/t in the March quarter due to a slight reduction in broken reef grade and an increase in gold in process (GIP).

Total underground tonnes milled increased by 9% to 437kt in the June quarter from 402kt in the March quarter while surface tonnes milled decreased by 2% to 327kt in the June quarter from 332kt in the March quarter.

Development increased by 3% to 2,889 metres in the June quarter from 2,817 metres in the March quarter as a result of an increase in rig production rates, which is in line with the production plan.

Secondary support installed decreased by 19% to 3,145 metres in the June quarter from 3,906 metres in the March quarter, due to intermittent support rig machine availability and the redeployment of rigs to conduct primary support. Backfill decreased by 22% to 67,381m3 in the June quarter from 86,418m3 in the March quarter due to reduced stope availability and intermittent pumping infrastructure availability. This decrease will have no impact on the forecast production for 2022.

All-in cost was marginally higher at R705,902/kg (US$1,410/oz) in the June quarter from R705,316/kg (US$1,441/oz) in the March quarter mainly due to an increase in capital expenditure and cost of sales before amortisation and depreciation, offset by higher gold sold.

Total capital expenditure increased by 23% to R540m (US$35m) in the June quarter from R438m (US$29m) in the March quarter.

Sustaining capital expenditure increased by 28% to R455m (US$29m) in the June quarter from R356m (US23m) in the March quarter mainly due to higher spend at the Doornpoort tailings facility, the solar plant and equipment deliveries.

Non-sustaining capital expenditure increased by 5% to R86m (US$6m) in the June quarter from R81m (US$5m) in the March quarter due to an increase in spending in new mine development during the current quarter.

South Deep obtained approval from NERSA on 16 March 2022 to increase the solar project capacity from 40MW to 60MW. We will deliver self-generation of 50MW in Q3 2022. Project to date expenditure on the plant is R500m (US$32m), with R153m (US$10m) committed bringing the total to R653m (US$42m). The total expenditure to build and commission the plant is estimated to be R700m (US$47m).

The construction of the plant is currently 7% behind schedule, and spending is currently 23% behind plan, due to global supply constraints and securing shipping slots, however, the plant is still planned for commissioning in Q3 2022.

West Africa region

Ghana

Tarkwa

    June
2022
March
2022
%
Variance
Ore mined 000
tonnes
3,058 3,283 (7)%
Waste (capital) 000
tonnes
11,374 10,931 4 %
Waste (operational) 000
tonnes
6,869 7,845 (12)%
Total waste mined 000
tonnes
18,243 18,776 (3)%
Total tonnes mined 000
tonnes
21,301 22,059 (3)%
Strip ratio waste/ore 6.0 5.7 5 %
Grade mined g/t 1.12 1.16 (3)%
Gold mined 000’oz 109.7 122.9 (11)%
Tonnes milled 000
tonnes
3,518 3,447 2 %
Yield g/t 1.14 1.16 (2)%
Gold produced 000’oz 128.8 128.5 – %
Gold sold 000’oz 128.8 128.5 – %
AISC US$/oz 1,342 1,269 6 %
AIC US$/oz 1,342 1,269 6 %
Sustaining capital expenditure US$m 63.0 57.2 10 %
Non-sustaining expenditure US$m – %
Total capital expenditure US$m 63.0 57.2 10 %

Gold production increased marginally to 128,800oz in the June quarter from 128,500oz in the March quarter due to higher tonnes milled. Yield decreased by 2% to 1.14g/t in the June quarter from 1.16g/t in the March quarter due to lower grade ore mined and fed. Ex-pit ore processed in the June quarter was 2.9Mt at 1.12/t compared with 3.1Mt at 1.16g/t in the March quarter.

Total tonnes mined, including capital waste stripping, decreased by 3% to 21.3Mt in the June quarter from 22.1Mt in the March quarter in line with the plan. Ore mined decreased by 7% to 3.1Mt in the June quarter from 3.3Mt in the March quarter due to the impact of rain on ore mined at the lower elevations of the Teberebie pit and focus on capital waste stripping. Capital waste stripping increased by 4% to 11.4Mt in the June quarter from 10.9Mt in the March quarter mainly at Teberebie and Kobada pit to expose ore. Operational waste decreased by 12% to 6.9Mt in the June quarter from 7.8Mt in the March quarter in line with the mining schedule. Strip ratio increased by 5% to 6.0 in the June quarter from 5.7 in the March quarter due to the increase in capital waste stripping. Gold mined decreased by 11% to 109.7koz in the June quarter from 122.9koz in the March quarter due to lower ore tonnes mined and grade.

Ore tonnes processed increased by 2% to 3,518kt in the June quarter from 3,447kt in the March quarter due to improved overall plant effectiveness.

All-in cost increased by 6% to US$1,342/oz in the June quarter from US$1,269/oz in the March quarter due to higher cost of sales before amortisation and depreciation as a result of higher mining cost as a result of the negative impacts of headwinds on diesel and explosive pricing and higher capital expenditure.

Capital expenditure increased by 10% to US$63m in the June quarter from US$57m in the March quarter mainly due to higher capital waste tonnes mined and higher mining unit cost.

Damang

    June
2022
March
2022
%
Variance
Ore mined 000
tonnes
1,735 1,875 (7)%
Waste (capital) 000
tonnes
2,650 1,662 59 %
Waste (operational) 000
tonnes
1,623 3,005 (46)%
Total waste mined 000
tonnes
4,273 4,667 (8)%
Total tonnes mined 000
tonnes
6,008 6,542 (8)%
Strip ratio waste/ore 2.5 2.5 – %
Grade mined g/t 1.62 1.53 6 %
Gold mined 000’oz 90.4 92.3 (2)%
Tonnes milled 000
tonnes
1,180 1,171 1 %
Yield g/t 1.67 1.64 2 %
Gold produced 000’oz 63.2 62.0 2 %
Gold sold 000’oz 63.2 62.0 2 %
AISC US$/oz 876 891 (2)%
AIC US$/oz 961 967 (1)%
Sustaining capital expenditure US$m 16.9 10.9 55 %
Non-sustaining expenditure US$m 2.6 2.6 – %
Total capital expenditure US$m 19.5 13.5 44 %

Gold production increased by 2% to 63,200oz in the June quarter from 62,000oz in the March quarter due to higher yield and throughput. Yield increased by 2% to 1.67g/t in the June quarter from 1.64g/t in the March quarter due to higher grade ex-pit material mined and fed at an improved Mine Call Factor (MCF).

Total tonnes mined decreased by 8% to 6.0Mt in the June quarter from 6.5Mt in the March quarter due to lower operating waste tonnes mined. Ore tonnes mined decreased by 7% to 1.7Mt in the June quarter from 1.9Mt in the March quarter.

Mined grade increased by 6% to 1.62g/t in the June quarter from 1.53g/t in the March quarter. Operational waste tonnes mined decreased by 46% to 1.6Mt in the June quarter from 3.0Mt in the March quarter in line with the mining sequence. Capital waste tonnes mined increased by 59% to 2.7Mt in the June quarter from 1.7Mt in the March quarter due to the increased mining rate at Huni pit.

All-in cost decreased by 1% to US$961/oz in the June quarter from US$967/oz in the March quarter mainly due to higher gold sold and lower cost of sales before amortisation and depreciation, partially offset by higher capital expenditure

Total capital expenditure increased by 44% to US$20m in the June quarter from US$14m in the March quarter. Sustaining capital expenditure increased by 55% to US$17m in the June quarter from US$11m in the March quarter due to timing of expenditure on the Huni capital waste stripping. Non-sustaining capital expenditure remained similar at US$3m in the June quarter.

Asanko (Equity-accounted Joint Venture)

All figures in table on a 100% basis

    June
2022
March
2022
%
Variance
Ore mined 000
tonnes
675 1,075 (37)%
Waste (capital) 000
tonnes
–%
Waste (operational) 000
tonnes
1,320 5,279 (75)%
Total waste mined 000
tonnes
1,320 5,279 (75)%
Total tonnes mined 000
tonnes
1,995 6,354 (69)%
Strip ratio waste/ore 2.0 4.9 (59)%
Grade mined g/t 1.59 1.49 7 %
Gold mined 000’oz 34.4 51.6 (33)%
Tonnes milled 000
tonnes
1,406 1,482 (5)%
Yield g/t 1.11 0.89 25 %
Gold produced 000’oz 50.0 42.3 18 %
Gold sold 000’oz 46.2 41.9 10 %
AISC US$/oz 1,431 1,538 (7)%
AIC US$/oz 1,519 1,639 (7)%
Sustaining capital expenditure US$m 3.0 1.1 173 %
Non-sustaining expenditure US$m 0.5 1.4 (64)%
Total capital expenditure US$m 3.5 2.5 40 %

Gold production increased by 18% to 50,000oz (100% basis) in the June quarter from 42,300oz (100% basis) in the March quarter mainly due to higher yield on the back of higher grades mined from Akwasiso.

Total tonnes mined decreased by 69% to 2.0Mt in the June quarter from 6.4Mt in the March quarter. Total waste tonnes mined decreased by 75% to 1.3Mt in the June quarter from 5.3Mt in the March quarter due to a reduced strip ratio at the Akwasiso pit and suspension of mining activities at the Esaase pit. Ore tonnes mined decreased by 37% to 0.7Mt in the June quarter from 1.1Mt in the March quarter accordingly.

All-in cost decreased by 7% to US$1,519/oz in the June quarter from US$1,639/oz in the March quarter mainly due to higher gold sold, partially offset by higher capital expenditure.

Total capital expenditure increased by 40% to US$4m in the June quarter from US$3m in the March quarter.

Sustaining capital expenditure increased by 173% to US$3m in the June quarter from US$1m in the March quarter mainly due to the start of TSF stage 7 and Nkran and Esaase drilling in the June quarter. Non-sustaining capital expenditure decreased by 64% to US$1m in the June quarter from US$1m in the March quarter mainly due to reduced expenditure as planned.

South America region

Peru

Cerro Corona

    June
2022
March
2022
%
Variance
Ore mined 000
tonnes
3,185 2,293 39 %
Waste mined 000
tonnes
4,053 3,634 12 %
Total tonnes mined 000
tonnes
7,238 5,927 22 %
Grade mined – gold g/t 0.76 0.66 15 %
Grade mined – copper per cent 0.41 0.39 5 %
Gold mined 000’oz 77.8 48.8 59 %
Copper mined 000
tonnes
13,049 8,881 47 %
Tonnes milled 000
tonnes
1,687 1,729 (2)%
Gold recovery per cent 67.9 69.9 (3)%
Copper recovery per cent 88.0 88.5 (1)%
Yield – Gold g/t 0.70 0.46 52 %
– Copper per cent 0.46 0.36 28 %
– Combined eq g/t 1.36 1.01 35 %
Gold produced 000’oz 36.4 24.5 49 %
Copper produced tonnes 7,397 5,913 25 %
Total equivalent gold produced 000’ eq oz 73.9 56.1 32 %
Total equivalent gold sold 000’ eq oz 70.8 59.8 18 %
AISC US$/oz 650 (129) (604)%
AISC eq oz 921 963 (4)%
AIC US$/oz 722 (27) (2,774)%
AIC eq oz 957 1,009 (5)%
Sustaining capital expenditure US$m 9.5 2.9 228 %
Non-sustaining expenditure US$m 1.8 2.2 (18)%
Total capital expenditure US$m 11.3 5.1 122 %

Gold equivalent production increased by 32% to 73,900oz in the June quarter from 56,100oz in the March quarter mainly due to higher gold and copper grades in line with the planned mining sequence for the June quarter.

Total tonnes mined increased by 22% to 7.2Mt in the June quarter from 5.9Mt in the March quarter, mainly due to better climate conditions (dry season), as compared to the rainy season during the March quarter. Ore mined increased by 39% to 3.2Mt in the June quarter from 2.3Mt in the March quarter, and waste mined increased by 12% to 4.1Mt in the June quarter from 3.6Mt in the March quarter.

Gold and copper grades mined increased by 15% and 5% respectively, in line with the mining sequence expected for the June quarter. Consequently, gold yield increased by 52% to 0.70g/t in the June quarter from 0.46g/t in the March quarter and copper yield increased by 28% to 0.46% in the June quarter from 0.36% in the March quarter.

As a result of the higher total equivalent production, total equivalent gold sold increased by 18% to 70,800oz in the June quarter from 59,800oz in the March quarter.

All-in cost per gold ounce sold increased to US$722/oz in the June quarter from a negative US$27/oz in the March quarter mainly due to the effect of a lower copper by-product credit resulting from a lower copper price in the June quarter and higher capital expenditure, partially offset by higher gold ounces sold. All-in cost per equivalent ounce decreased by 5% to US$957 per equivalent ounce in the June quarter from US$1,009 per equivalent ounce in the March quarter mainly due to higher equivalent ounces sold, partially offset by higher capital expenditure.

Total capital expenditure increased by 122% to US$11m in the June quarter from US$5m in the March quarter mainly due to an increase in construction activities at the tailings dam during the dry season. Sustaining capital expenditure increased by 228% to US$10m in the June quarter from US$3m in the March quarter mainly due to construction of the tailings dam as explained above and a land acquisition. Non-sustaining capital expenditure was similar at US$2m in the June quarter.

In line with the planned mining sequence used to determine the 2022 guidance, equivalent gold production is expected to decrease in Q3 2022, with full year production still in line with guidance provided in February 2022.

Salares Norte

The Salares Norte project continued progressing during Q2 2022. Total project progress at the end of June was 77% compared to 70% at the end of Q1 2022. Construction progress increased to 9.3% for the three months ended 30 June 2022 compared with 8.8% for the three months ended 31 March 2022. This was an improvement on the back of the COVID-19 impact during Q1. However, construction productivity in Q2 was impacted by difficult weather conditions with snow events, very high winds and extremely low temperatures. Construction progress at the end of June 2022 was 73%.

US$94.2m was spent on the project during the quarter, comprising US$82.1m in capital expenditure, US$6.0m in exploration, US$4.5m in other cost, a US$1.4m investment in working capital and a realised loss of US$0.2m on the FX hedge. US$77.5m was spent on the project during Q1 2022.

Pre-stripping at the Brecha Principal pit continued as planned and 9.0Mt was stripped during Q2 2022 compared with 10.8Mt for Q1 2022. Project to date pre-stripping is 42.7Mt.

The exploration team remains focused on exploring the district, with 4,955 metres drilled for the three months ended 30 June 2021 compared with 6,148 metres for the three months ended 31 March 2021.

Australia region

St Ives

    June
2022
March
2022
%
Variance
Underground
Ore mined 000
tonnes
385 417   (8)%
Waste mined 000
tonnes
221 199   11 %
Total tonnes mined 000
tonnes
606 616    (2)%
Grade mined g/t 4.63 5.43  (15)%
Gold mined 000’oz 57.2 72.8  (21)%
Surface
Ore mined 000
tonnes
201 –    – %
Surface waste (capital) 000
tonnes
3,310 3,773   (12)%
Surface waste (operational) 000
tonnes
–    – %
Total waste mined 000
tonnes
3,310 3,773   (12)%
Total tonnes mined 000
tonnes
3,511 3,773    (7)%
Grade mined g/t 1.08 –    – %
Gold mined 000’oz 7.0 –    – %
Strip ratio waste/ore 16.4 –    – %
Total (underground and surface)
Total ore mined 000
tonnes
586 417    41 %
Total grade mined g/t 5.43 3.74    45 %
Total tonnes mined 000
tonnes
4,117 4,389    (6)%
Total gold mined 000’oz 64.2 72.8   (12)%
Tonnes milled 000
tonnes
1,020 1,021    – %
Yield – underground g/t 5.03 5.06    (1)%
Yield – surface g/t 1.13 1.10    3 %
Yield – combined g/t 2.94 2.86    3 %
Gold produced 000’oz 96.4 93.9    3 %
Gold sold 000’oz 95.9 95.9    – %
AISC A$/oz 1,616 1,681 (4)%
US$/oz 1,153 1,217 (5)%
AIC A$/oz 1,712 1,718 – %
US$/oz 1,222 1,244 (2)%
Sustaining capital expenditure A$m 38.2 38.8 (2)%
US$m 27.2 28.1 (3)%
Non-sustaining capital expenditure A$m 5.4 0.2 2,600 %
US$m 3.9 0.2 1,850 %
Total capital expenditure A$m 43.6 39.0 12 %
US$m 31.1 28.3 10 %

Gold production increased by 3% to 96,400oz in the June quarter from 93,900oz in the March quarter mainly due to an increase in the average grade of ore milled.

At the underground operations, waste mined increased by 11% to 221,000t in the June quarter from 199,000t in the March quarter with increased development at Invincible underground mine.

Grade mined from underground operations decreased by 15% to 4.63g/t in the June quarter from 5.43g/t in the March quarter due to lower grades mined at Invincible underground mine, in line with the mine schedule. As a result of the decrease in grade and an 8% decrease in ore mined, gold mined decreased by 21% to 57,200oz in the June quarter from 72,800oz in the March quarter.

During the June quarter Neptune open pit stage 7 achieved first ore, realising 201,000 ore tonnes at an average grade of 1.08g/t generating 7,000oz (March quarter – nil). On the move to ore production, capital waste mined at the open pits decreased by 12% to 3.31Mt from 3.77Mt in the March quarter.

All-in cost at A$1,712/oz (US$1,222/oz) for the June quarter was similar in AUD terms to the March quarter at A$1,718/oz (US$1,244/ oz).

Total capital expenditure increased by 12% to A$44m (US$31m) in the June quarter from A$39m (US$28m) in the March quarter.

Sustaining capital expenditure decreased by 2% to A$38m (US$27m) in the June quarter from A$39m (US$28m) in the March quarter and non-sustaining capital expenditure increased to A$5m (US$4m) in the June quarter from A$nil (US$nil) in the March quarter with capital development commencing at Invincible Deeps.

Agnew

    June
2022
March
2022
%
Variance
Underground ore mined 000
tonnes
260 250 4 %
Underground ore mined 000
tonnes
225 208 8 %
Total tonnes mined 000
tonnes
485 458 6 %
Grade mined – underground g/t 6.71 8.08 (17)%
Gold mined 000’oz 56.0 65.0 (14)%
Tonnes milled 000
tonnes
292 292 – %
Yield g/t 6.11 6.73 (9)%
Gold produced 000’oz 57.4 63.0 (9)%
Gold sold 000’oz 56.4 64.5 (13)%
AISC A$/oz 1,738
1,577 10 %
US$/oz 1,240 1,142 9 %
AIC A$/oz 2,005 1,775 13 %
US$/oz 1,431 1,285 11 %
Sustaining capital expenditure A$m 21.6 21.5 – %
US$m 15.4 15.5 (1)%
Non-sustaining capital expenditure A$m 13.9 11.8 18 %
US$m 9.9 8.6 15 %
Total capital expenditure A$m 35.5 33.3 7 %
US$m 25.3 24.1 5 %
 

Gold production decreased by 9% to 57,400oz in the June quarter from 63,000oz in the March quarter due to lower grade of ore mined and processed.

Mined grade decreased by 17% to 6.71g/t in the June quarter from 8.08g/t in the March quarter with lower grades mined from the Kath lode at Waroonga due to the mining sequence. As a result of the decrease in grade partially offset by a 4% increase in ore mined, gold mined decreased by 14% to 56,000oz in the June quarter from 65,000oz in the March quarter.

All-in cost increased by 13% to A$2,005/oz (US$1,431/oz) in the June quarter from A$1,775/oz (US$1,285/oz) in the March quarter, due to increased capital expenditure and decreased gold sold, partially offset by lower cost of sales before amortisation and depreciation.

Total capital expenditure increased by 7% to A$36m (US$25m) in the June quarter from A$33m (US$24m) in the March quarter.

Sustaining capital expenditure remained similar at A$22m (US$15m) in the June quarter. Non-sustaining capital expenditure increased by 18% to A$14m (US$10m) in the June quarter from A$12m (US$9m) in the March quarter with increased expenditure on the mill crushing circuit expansion.

Granny Smith

    June
2022
March
2022
%
Variance
Underground ore mined 000
tonnes
398 405 (2)%
Underground ore mined 000
tonnes
176 172 2 %
Total tonnes mined 000
tonnes
574 577 (1)%
Grade mined – underground g/t 6.31 5.39 17 %
Gold mined 000’oz 80.9 70.2 15 %
Tonnes milled 000
tonnes
388 389 – %
Yield g/t 5.80 5.27 10 %
Gold produced 000’oz 72.4 65.9 10 %
Gold sold 000’oz 78.5 59.7 31 %
AISC A$/oz 1,373 1,565 (12)%
US$/oz 981 1,133 (13)%
AIC A$/oz 1,585 1,767 (10)%
US$/oz 1,132 1,279 (11)%
Sustaining capital expenditure A$m 15.1 18.3 (17)%
US$m 10.8 13.3 (19)%
Non-sustaining capital expenditure A$m 14.1 10.1 40 %
US$m 10.1 7.3 38 %
Total capital expenditure A$m 29.2 28.4 3 %
US$m 20.9 20.6 1 %

Gold production increased by 10% to 72,400oz in the June quarter from 65,900oz in the March quarter due to increased grade of ore mined and processed.

Grade mined increased by 17% to 6.31g/t in the June quarter from 5.39g/t in the March quarter due to increased grades and volumes mined from the Z120 area. As a result of the increase in grade partially offset by a 2% decrease in ore mined, gold mined increased by 15% to 80,900oz in the June quarter from 70,200oz in the March quarter.

All-in cost decreased by 10% to A$1,585/oz (US$1,132/oz) in the June quarter from A$1,767/oz (US$1,279/oz) in the March quarter due to increased gold sold, partially offset by increased cost of sales before amortisation and depreciation as well as increased capital expenditure.

Total capital expenditure increased by 3% to A$29m (US$21m) in the June quarter from A$28m (US$21m) in the March quarter.

Sustaining capital expenditure decreased by 17% to A$15m (US$11m) in the June quarter from A$18m (US$13m) in the March quarter due to decreased expenditure on mine development in the June quarter. Nonsustaining capital expenditure increased by 40% to A$14m (US$10m) in the June quarter from A$10m (US$7m) in the March quarter due to increased expenditure on the second decline, development of the Z135 area and increased exploration expenditure.

Gruyere

    June
2022
March
2022
%
Variance
Mine physicals in table on a 100% basis
Ore mined 000
tonnes
2,672 2,637 1 %
Waste (Capital) 000
tonnes
3,750 6,748 (44)%
Waste (Operational) 000
tonnes
3,003 795 278 %
Total waste mined 000
tonnes
6,753 7,543 (10)%
Total tonnes mined 000
tonnes
9,425 10,180 (7)%
Grade mined g/t 1.19 1.08 10 %
Gold mined 000’oz 102.6 91.3 12 %
Strip ratio waste/ore 2.5 2.9 (14)%
Tonnes milled 000
tonnes
2,412 2,142 13 %
Yield g/t 1.10 1.03 7 %
Gold produced 000’oz 85.7 71.1 21 %
Gold sold 000’oz 88.9 70.3 26 %
AISC A$/oz 1,220 1,503 (19)%
US$/oz 871 1,088 (20)%
AIC A$/oz 1,225 1,503 (18)%
US$/oz 874 1,088 (20)%
Capital in table on a 50% basis
Sustaining capital A$m 9.4 12.6 (25)%
expenditure – 50% basis US$m 6.7 9.1 (26)%
Non-sustaining capital A$m – %
expenditure – 50% basis US$m – %
Total capital expenditure A$m 9.4 12.6 (25)%
– 50% basis US$m 6.7 9.1 (26)%

Gold production increased by 21% to 85,700oz in the June quarter from 71,100oz in the March quarter due to an increase in grade of ore mined and processed, as well as increased tonnes milled.

Capital waste mined decreased by 44% to 3.75Mt in the June quarter from 6.75Mt in the March quarter and operational waste mined increased by 278% to 3.0Mt in the June quarter from 0.80Mt in the March quarter with stage 3 of the Gruyere pit moving out of the prestrip phase during the June quarter.

Grade mined increased by 10% to 1.19g/t in the June quarter from 1.08g/t in the March quarter with increased grades mined from stages 2 and 3 of the Gruyere pit. As a result of the increase in grade and a 1% increase in ore mined, gold mined increased by 12% to 102,600oz in the June quarter from 91,300oz in the March quarter.

All-in cost decreased by 18% to A$1,225/oz (US$874/oz) in the June quarter from A$1,503/oz (US$1,088/oz) in the March quarter due to increased gold sold and lower capital expenditure, partially offset by increased mining costs on the back of increased operational volumes mined.

Sustaining capital expenditure (on a 50% basis) decreased by 25% to A$9m (US$7m) in the June quarter from A$13m (US$9m) in the March quarter with less mine development following stage 3 of the Gruyere pit moving out of the pre-strip phase during the June quarter.