Brisbane, Feb 19, 2009 AEST (ABN Newswire) - In the interests of keeping investors informed, North Queensland Metals Limited (ASX:NQM) is providing this progress report on the impact of the extreme seasonal rain on production at NQM's 60% owned Pajingo Gold Mine The Townsville - Charters Towers region has been in the grip of one of the wettest seasons on record, and the impact on the Pajingo mine has now been assessed.
The disruption has been heaviest in the mine's crushing circuit where the build up of fine material has prevented the operation from crushing enough ore to keep the mill operating full time. The hire of an additional screen has reduced this impediment. Underground mining operations have been less affected, and efforts are being directed at making up for the current shortfall over the remainder of February and the month of March.
The Pajingo mill has the capacity to be run at higher throughput and is expected to make up for some lost production in the remainder of the current quarter. As a result, production for the March quarter is expected to be around 15% less than the December quarter. The lower gold production does not affect NQM's forward sales. Further lost ground is expected to be made up in incremental production beyond the current quarter. status. This program is now being developed.
Contact
John D McKinstry
Chief Executive Officer
North Queensland Metals Limited
Tel: +61-1300-308-832
Fax: +61-7-3666-0510
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