Firefinch records strong quarterly gold production at Morila, second highest monthly level in December

Firefinch Ltd (ASX:FFX) recorded strong quarterly production for the fourth quarter of 2021 including 4,788 ounces of gold produced in December, the second-highest monthly level since acquiring the Morila Gold Mine in Mali in late 2020. 

Quarterly production for October to December 2021 came in at 11,115 ounces of gold, towards the upper end of previous guidance of 10,000 to 11,500 ounces. 

Production is now underpinned by ramped-up mining at the satellite pits where two mining contractors are fully mobilised.

Haulage operations from the satellite pits to the Morila gold plant have also been established.

The quarterly production guidance for January to March 2022 is 10,000 to 11,500 ounces of gold.

Real value to flow in second half

Firefinch managing director Michael Anderson said: “These latest production figures are consistent with our expectations and at the upper end of guidance.

“Initial pre-strip at Viper is complete and the Viper pit has developed nicely with our mining contractors now operating consistently and steadily increasing haulage capacity.

“Known satellite pit feed will continue to feature prominently in the Q1 2022 production plan as we continue to advance the pre-strip at the Morila Super Pit.

“Now that we’ve commenced mining Morila the Gorilla, the real value will start to flow in 2H 2022 once we’re feeding the plant with Morila ore.”

Production

Production of 4,788 ounces of gold in December was the second-highest level of production delivered, with the highest level of 5,019 ounces of gold in June 2021.

Mining for the full year 2021 was largely in line with plans for Morila, producing 45,800 ounces of gold.

Viper satellite pit

Mining operations at the Viper satellite pit are well established. Pre-strip at the Morila Super Pit commenced on schedule in the first week of January 2, 2022.

The southern portion Viper has been developed with a model using locally owned and operated mining contractor EGTF and international tier-1 mining contractor Mota Engil in joint venture with Malian-owned and operated Intermine Services (MEIM).

The approach has allowed both contractors to fully establish their operations on-site and provides for the safe and planned scope growth of MEIM to the Morila Super Pit, which has already occurred and EGTF to other opportunities on-site.

EGTF has also established a reliable haulage operation from the Viper satellite pit direct tipping at the Morila plant oxide crusher and stockpiling at the run of mine ore stockpiles adjacent to the Morila plant crushers.

First-quarter guidance

The first quarter 2022 plan will have a large contribution of Viper ore with known mining conditions and ore quality.

Story by ProactiveInvestors