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June 2002 Quarterly Report

Principal Points

30 July 2002

  • Gold production of 17,120 ounces for the quarter and 51,702 ounces for the year at low cash operating costs of $239/oz and $317/oz and head grades of 8.7g/t and 8.5g/t respectively.
  • Gympie Gold Gemstone production raised Gympie Eldorado aggregate production to the revenue equivalent of over 55,000 ounces of gold for the year - as gemstone is higher value-added than gold.
  • Coal sales of 281,281 tonnes for the quarter and 1.1 million tonnes for the year. Southland Coal completed the development of SL3 - the largest longwall panel ever developed in the Greta Seam. SL3 contains 1.7 million tonnes of coal recoverable over the coming year and its extraction commenced in July. For the first time since Southland's start-up in mid-1998, mine development is no longer a bottleneck.
  • Gympie Eldorado mine development a record 2,935 metres due to the Lewis Decline extension, to support exploration and integrate the operations of the Lewis and Monkland Mines. Gympie Eldorado's processing plant capacity de-bottlenecked to 300,000 tonnes per annum.


  • Download the June Quarterly Report (450KB) [ pdf ]


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