AuStar Gold Limited (ASX: AUL) is pleased to advise shareholders that, after an extensive process of review and commercial negotiations, a definitive Concentrate Sales Agreement has been concluded with MCC Non-Ferrous Trading, for the sale of the Company’s high-grade concentrate product.
Highlights:
- Concentrate Sales Agreement concluded with MCC Non-Ferrous Trading (NY)
- Agreement provides attractive realisation of contained gold in this product stream with nil residual risks to AuStar Gold
- Maiden shipment in train with payment received by AuStar Gold
- Enhanced recovery circuit expected to significantly increase concentrate volumes
AuStar Gold Chair Mr Philip Amery said:
"We are pleased to have concluded this Agreement, which provides for timely and commercially attractive monetisation of this important component of our production. The AuStar Gold team has been making great strides in lifting gold production at Morning Star, within a very disciplined cost control environment, delivering a step-up in revenues over the last few months despite having this material portion of gold recoveries diverted to stockpile."
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