Kaiser pumps up cash stash from Tasmanian gold mine
Kaiser Reef generated $14.28 million in operating cash flow during the March quarter, increasing its cash balance to $45.6 million, driven by strong gold sales from its Henty mine in Tasmania and continued high gold prices. The company sold 5,561 ounces of gold at an average price of A$6,296 per ounce, with production primarily coming from Henty. Despite a slight dip in output due to lower grades late in the quarter, management has implemented corrective measures and plans to boost throughput at its Maldon operation. Kaiser is now fully unhedged, positioning it to benefit fully from current elevated gold prices.
- ▪Kaiser Reef reported $14.28 million in net cash from operating activities for the March quarter, growing its cash balance to $45.6 million.
- ▪The company sold 5,561 ounces of gold at an average realized price of A$6,296 per ounce, generating over $35 million in sales.
- ▪Gold production totaled 5,534 ounces in the quarter, down from 6,526 ounces in the previous quarter, with 5,188 ounces from the Henty mine in Tasmania.
- ▪Kaiser Reef is now fully unhedged after closing out call options, giving it full exposure to current gold prices, which are around A$6,420 per ounce.
- ▪The company plans to process 10,000 tonnes per month from its Maldon stockpile until 2030 and is preparing for a second shift to double throughput at the site.
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