Mining company Firefinch (ASX:FFX) announced on Monday that its Morira gold mine recorded 11,115 ounces of gold production in the December quarter, which is close to the upper limit of the company's previous guidance of 10,000 to 11,500 ounces.
Among them, Firefinch's gold production in December reached 4788 ounces, which is the company's second-highest monthly production record.
The company noted that mining activities in the shallow shafts of Satellite under the Morila project have already begun and that two mining contractors have been fully mobilized. In addition, the on-site transport operation to the Morira gold mine has also been established.
In early January, the pre-divestiture process for the company's Morira super mine began as planned. According to the plan, the first phase of scrap pre-divestiture will continue until the first quarter of 2022, and the first ore will be produced in the second quarter of 2022.
For now, extended drilling for the Morila and Satellite shallow wells is continuing.
As a result, Firefinch expects gold production in the March quarter (January-March 2022) to remain between 10,000 and 11,500 ounces.
Michael Anderson, managing director of the company, said: "These latest production figures are in line with our expectations and are at the upper limit of guidance. Viper's initial pre-divestiture work has been completed and the mine is well developed and the company's mining contractors are currently continuously and steadily increasing their transportation capacity. ”
"As we continue to advance the pre-spin-off of the Morira superground, the existing Satelite shallow well will continue to be significantly positioned in the production plan for the first quarter of 2022."
The company's shares fluctuated high in early trading on Monday, but began to move lower at noon.
As of press time, the share price fell 2.03% to $0.725.
