West Perth-based Beadell Resources has recorded its highest ever gold production and sales at its Tucano mine in Brazil, with plant and equipment upgrades paying dividends for the company.
Beadell's December quarter gold production was up 10.4 per cent from the previous quarter to 60,823 ounces, with gold recovery at 92 per cent.
The successful upgrade of a gold elution circuit in the previous quarter contributed to a 47 per cent jump in gold sales for the quarter, which reached a record 64,131 ounces.
The company's annualised plant throughput was solid at 4.2 million tonnes per annum, with the rate expected to reach 4.5mtpa in the March quarter.
Beadell managing director Peter Bowler said the company's balance sheet had also improved markedly during the quarter.
"This record breaking quarter was particularly gratifying given our capacity to pay out about $54 million in debt repayments coupled with important plant and equipment upgrades, whilst maintaining a strong cash and bullion balance in an environment of low gold prices," Mr Bowler said.
"Out ultra high grade oxide pit, Duckhead, performed very strongly and we look forward to a continued significant contribution from this low cost gold source over the coming quarters."
The company expects the mine's C1 cash costs to come in at the upper limit of the guidance range of $US435 per ounce to $US485 per ounce.
Beadell shares closed the day's trade two cents higher at 82.5 cents.
