SAL/SALD - Sallies Limited - Voluntary production update
SAL SALD
SAL
SAL/SALD - Sallies Limited - Voluntary production update
Sallies Limited
(Incorporated in the Republic of South Africa)
(Registration number 1903/001879/06)
Share code: SAL ISIN: ZAE000022588
JSE Code: SALD ISIN: ZAE000117305
("Sallies" or "the Company")
VOLUNTARY PRODUCTION UPDATE
Operational Highlights for Sallies for the three months ended 30
September 2011 ("Q 1")
* Q1 produced tonnes 27,301
* Q1 shipped tonnes 34,723
* Average price of Q1 shipped tonnes* US$387.90
* Product inventory as at 30 September 2011 11,548
* Average plant recovery 86%
* Note: average prices of shipped tonnage are typically negotiated
and settled between three to nine months in advance of shipment and
reflect weighted average prices.
Improved Plant Efficiency
During Q1, management of Sallies focused on improving plant efficiency
and mine development at Witkop. Plant recoveries on average of 86% were
achieved, significantly above historical performance, reflecting the
continued efforts of management to improve the operation of the plant
since the Witkop Mine restart in March 2011. Several additional plant
improvements will be made during the annual maintenance and shutdown
period over the December holiday period.
The focus at Witkop on mine development will continue through to Q3,
including the removal of overburden to two new pits and ore infill
drilling to facilitate mine planning. Production rates are anticipated
to steadily increase to nameplate capacity during the fiscal year as
the new pits are brought on stream.
Johannesburg
19 October 2011
Sponsor: Bridge Capital Advisors (Pty) Limited
Date: 19/10/2011 11:52:02 Produced by the JSE SENS Department.
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