Central Rand Gold raises full year production

Central Rand Gold says it reduced its loss by 78% to US$16.1 million for the year ended December 201manufacturer of cone crushers in india1, from $72.1 million in the previous year, and basic and diluted loss per share of 1.01 cents for the year from a loss of 4.51 cents per share previously.

The company said the reduced loss was due to increased gold sales achieved "predominantly" from surface pits, improved plant availability, higher plant recovery and a stronger average realised rand price. Gold output increased to 14,856 ounces from the 9,321 ounces produced during 2010, while surface mining cash operating costs were reduced by 26% to an average of $1,115/oz, due to the discovery of additional surface materials with better strip ratios, better grades, resized employee headcount, metallurgical process optimisation, and renegotiated material and service contract rates. CRG said the Department of Mineral Resources had returned its mining rights, unopposed, after the company...