Four mid-tier WA gold producers have lifted the lid on their quarterly output, with one of them shunned by investors.
Red 5, Silver Lake Resources, Emerald Resources and Pantoro all went to market on Monday with production figures from the last three months of 2023.
Red 5 announced it pumped out 53,017 ounces of gold for the December quarter from its flagship King of the Hills project in the eastern Goldfields, positioning the miner to deliver on the top end of its guidance range of between 195,000oz to 215,000oz for the 2024 financial year.
Its shares jumped 5.4 per cent to finish Monday’s trade at 30¢.
Silver Lake was another winner on Monday, its stock climbed 2.7 per cent to $1.16, after telling investors it produced 57,360oz for the last quarter of the calendar year and is on track to meet its annual output guidance for the 10th consecutive financial year.
Cambodia-focused Emerald Resources crept up 1one per cent to $3.02. It revealed a December-quarter result of 29,184oz from its Okvau mine, at the upper end of its 25,000oz to 30,000oz guidance.
Pantoro was the odd one out, slumping 7.6 per cent to 4.9¢, as investors gave the thumbs down to its figure of 18,185oz.
The Paul Cmrlec-led miner pinned the blame for the lacklustre result on COVID-19 cases and “personnel attendance around the festive season” at its flagship Norseman project.
The struggling miner struck a deal with Mineral Resources in November to divest its lithium, nickel, copper and cobalt rights on Norseman for up to $60 million in cash plus royalties.
The miners will detail their full December quarter results — including costs and cash balances — later this month.