Search

Sunshine for Aurora

In spite of adverse El Nino climatic conditions affecting its Mt Muro mining operations in Indonesia, Aurora Gold Limited reported a net profit $14.5 million from silver and gold sales for the fiscal year ended December 31.

This reflects a much lower gold price and an increase in cash operating costs from US$161 per ounce in 1997 to US$170/oz in 1998.

Nevertheless, the Mt Muro operation turned in a 6 per cent higher production rate, with sales revenue increasing 12 per cent to $143 million.

Aurora managing director and CEO Ian Burston said: “Despite difficult conditions, all aspects of the company’s operational activities produced positive results in 1998.”

The group aims to achieve sustainable annual production of 400,000 ounces of gold equivalent.

Primary focus will be on developing the Toka Tindung project in North Sulawesi, where Aurora has established reserves of 883,000 gold equivalent ounces.

Login

(existing subscribers)

The password field is case sensitive.
Request new password

Add your comment

BNIQ sponsored byECU School of Business and Law

Students

6th-Australian Institute of Management WA20,000
7th-Murdoch University16,584
8th-South Regional TAFE10,549
9th-Central Regional TAFE10,000
10th-The University of Notre Dame Australia6,708
47 tertiary education & training providers ranked by total number of students in WA

Number of Employees

BNiQ Disclaimer