Gold production during the 2013 financial year at Peninsular Gold’s Raub project in Pahang state increased to 22,383 ounces from the processing of about 1.288 million tonnes of blended tailings and shallow in-situ material.  1

The gold production represented a 24% increase on the 18,100 ounces produced in the 2012 financial year. The company’s profit after tax for the fiscal year was 2.3 million pounds, down from 3.0 million pound in fiscal 2012.

The focus for the Raub project has remained on improvement of the front end utilization and feed arrangements, whilst also continuing to commission the enlarged circuit. This has enabled the company to increase both the tonnage through the plant and also the gold produced.

The tailings material is principally fed to the plant via a gravel pump system whilst the in-situ material has been mainly fed via the monitoring bay. The new mobile crusher unit has also been utilized to treat some of the harder in-situ ore.

During the September quarter the mining and processing at Raub has shifted to tailings only as the next tailings storage facility is prepared. Gold production for the quarter was 5836 ounces of gold from an estimated 342,000 tonnes of throughput.

During the 2013 financial year, exploration activity was principally comprised of the ongoing regional and detailed exploration in the Northern Licence Areas, particularly in the promising Chunchok and Kekabu mineralized zones.

At Kekabu, several mineralized bodies similar in nature and size to the Tersang deposits were identified. They stretched over a distance of about 5km to the north and along the same mineralized strike as Tersang.

At Chunchok, South of Tersang, the main north-south brecciated structure hosts silicified zones with sulphides and extends over an estimated 700 metres.  The field work and sampling at Chunchok has confirmed its potential as a narrow but high grade deposit, complementary to Tersang and the recent Kekabu discoveries.

Peninsular’s chairman Dato Sri Andrew Tai Yeow Kam says, “The further development of the Raub mine and operation in terms of its production levels and efficiency remain core to our operational plans. We are currently also focused on improving availability, utilization, cost effectiveness and throughput of the Raub project.

“However, aside from Raub we are also excited about the future opportunities being promised by the new and interesting areas of gold mineralization being found and delineated in the northern licence areas along the Chunchok, Tersang, Kekabu and Tenggellan trend.”