GREY:MRBAF - Post by User
Post by
wise_investoron Oct 24, 2012 5:37pm
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Post# 20520173
Quarterly Highlights - "Promising"
Quarterly Highlights - "Promising"
Mirabela produces 5,441 t Ni in concentrate in Q3
2012-10-22 20:26 ET - News Release
QUARTERLY ACTIVITY REPORT FOR THE PERIOD ENDED 30 SEPTEMBER 2012
Mirabela Nickel Ltd. has released its unaudited third quarter results for the period ended Sept. 30, 2012.
Highlights:
- Record production for the quarter of 5,441 tonnes of nickel in concentrate (up 27 per cent from second quarter 2012: 4,276 tonnes);
- Record sales for the quarter of 5,381 tonnes of nickel in concentrate (up 12 per cent from second quarter 2012: 4,787 tonnes);
- Record unit cash costs of $5.38 (U.S.) per pound for the quarter (down 11 per cent from second quarter 2012: $6.03 (U.S.) per pound);
- Average mined nickel grade of 0.52 per cent for the quarter (up 4 per cent from second quarter 2012: 0.50 per cent) and mining material movement of 8.9 million tonnes in accordance with the mine plan;
- Record processing-plant throughput of 1.8 million tonnes (up 24 per cent from second quarter 2012: 1.4 million tonnes);
- Average processing-plant nickel recovery of 59 per cent (second quarter 2012: 58 per cent) and average nickel feed grade of 0.52 per cent (second quarter 2012: 0.51 per cent) for the quarter;
- Cash on hand and on deposit of $160-million (U.S.) (second quarter 2012: $166-million (U.S.)) at quarter-end;
- Successful completion of the plant upgrade construction program during the quarter;
- Substantial increase in open-pit resources to 204 million tonnes of 0.49 per cent nickel (measured and indicated) and 79.6 million tonnes of 0.56 per cent (inferred).
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