WPG Resources Ltd. Reports Consolidated Earnings Results for the Half Year Ended December 31, 2017; Reports Production Results for the Half Year Ended December 31, 2017; Provides Combined Challenger and Tarcoola Mining Operations Guidance for the Year Ending June 30, 2018
For the half year, the company reported gold production of 22,389 oz. Total ore processed was 324,645 tonnes. Grade processed was 2.27 g/t Au. Recovery was 94.4%.
Guidance for the combined Challenger and Tarcoola mining operations for the year to June 30, 2018 remains 60,000 ounces. The company's, Byrnecut and Byrnecut's affiliate Mining Plus have worked together since December 2017 to optimise the production strategy at Challenger, and to integrate Tarcoola into a new Business Plan. This study, which will be finalised during the March 2018 quarter, will de-emphasise short term production from high cost remnant mining in the older parts of the Challenger mine, and focus more on developing into the virgin Challenger Deeps area, along with optimising production from Tarcoola.