It was unable to finish on June 30 as strongly as it hoped, failing to replicate or better the March quarterly production of 21,669 ounces, however it still delivered 71,153oz for the 2022 financial year.
That was towards the lower end of the guidance range of 70,000-75,000oz.
June quarter production was 16,298oz.
Sales for the quarter were 16,800oz, and its unhedged status meant that it realised a sales price of A$2620 per ounce, generating quarterly revenue of $44 million.
Some of its peers are seeing over $1000/oz in hedge book ‘losses’.
Despite its setbacks, Gascoyne reported that its flagship Dalgaranga operation enjoyed a solid June quarter operationally despite lower mining rates, with considerable near-mine exploration success pointing to a much anticipated expansion of the mine life into the 2030s.
Gascoyne ended FY22 debt-free and with a steady cash position of $31 million, even after spending $3 million in drilling at Gilbey’s North, Gilbey’s Eastern Footwall and Plymouth.
Its full production and cost figures for the quarter will be released later this month.
All-in sustaining costs for the March quarter were $2127/oz, but like its peers it is battling inflation, and its June numbers will also be impacted by lower production.
