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VIL
VIL
VIL - Village Main Reef Limited - Village production performance for March 2012
Quarter
Village Main Reef Limited
(formerly known as Village Main Reef Gold Mining Company (1934) Limited)
(Registration number 1934/0057034/06)
Share Code: VIL
ISIN: ZAE000154761
("Village")
VILLAGE PRODUCTION PERFORMANCE FOR MARCH 2012 QUARTER
Village today announces that a total of 38 508 ounces of gold and 909 tons of
antimony were produced during the March 2012 quarter. Gold production for the
quarter was 5% or 65kg (2 021 oz) less than the forecasted gold production for
the quarter as detailed in the SENS announcement released on 16 February 2012
and 14% or 197kg (6 118 oz) less than the production achieved during the
December 2011 quarter .
Gold production at Tau Lekoa yielded a 1% or 5kg (184oz) improvement than what
was forecast largely due to increased production tons from underground.
Gold production at Buffelsfontein was 18% or 63kg (2 076oz) lower than forecast.
Production volumes were impacted from hoisting problems at its high grade number
2 shaft and certain production panels were also stopped at 7 shaft, due to a
fall in head grade below the pay limit. This affected the mining mix and overall
gold yield at Buffelsfontein.
Gold production at Cons Murch was 6% or 4kg (130oz) lower than forecast due to
lower than expected plant recoveries. Antimony production was negatively
affected by lower volumes from the higher grade antimony shafts, due to a winder
breakdown and some mine wide safety stoppages experienced mid-way through the
quarter.
The table below provides more information of the production achieved at each of
the Village mines during the March 2012 quarter versus the December 2011 quarter
and production guidance released in February 2012.
March December % Productio %
quarter quarter change n change
guidance
Tau Lekoa - gold oz 26 934 28 773 down 6% 26 750 up 1%
Buffelsfontein - gold 9 433 13 634 down 31% 11 509 down 18%
oz
Cons Murch - gold oz 2 141 2 219 down 4% 2 271 down 6%
Cons Murch - antimony 909 837 up 9% 1 200 down 24%
tons
Village CEO Bernard Swanepoel commented: "At Tau Lekoa, we have started to
witness the rewards of the optimization project which positively impacted
production, notwithstanding the effect of the Christmas break. At Buffelsfontein
and Cons Murch, additional challenges were experienced which affected our
production volumes. We have taken the necessary steps and anticipate that
production at these operations will return to normalized levels during the June
quarter."
Operational and financial details for the March 2012 quarter (FY 2012) will be
provided in the March 2012 Quarterly Report, which is expected to be released on
SENS towards the middle of May 2012.
Contacts:
Village CEO
Bernard Swanepoel
bernard@villagemainreef.co.za
083 303 9922
Vestor
Media and Investor Relations
Louise Brugman
louise@vestor.co.za
011 787 3015
083 504 1186
Sponsor
Java Capital
Date: 05/04/2012 14:13:01 Produced by the JSE SENS Department.
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