Calidus Resources (ASX:CAI) reports production at its Warrawoona Gold Project in Western Australia continues to grow as the company has implemented a growth strategy.
During the March quarter 2024, Caldius, which has a market capitalisation of $91.31 million, reports production at Warrawoona totalled 15,118 ounces — compared to 11,980 ounces during the December quarter 2023.
The March gold production equates to about $53 million at the current gold price of $3,511.
The March monthly production of 5,845 ounces is the highest monthly production result since starting operations at Warrawoona.
Recovered ounces per day have risen steadily from an average of 118 ounces in December 2023 to 190 ounces in March 2024.
Calidus says the March quarter sales totalled 14,153 ounces with 8,903 ounces sold at spot prices — boosting cashflows.
As of 31 March 2024, Calidus had $12.2 million in cash and cash equivalents at hand, following debt repayments of $8 million during the quarter, according to its latest March quarter production report.
Calidus Resources is a gold-focused company that wholly owns and operates the Warrawoona Gold Project and the nearby Nullagine Gold Project, both located in the East Pilbara district of Western Australia.
Write to Aaliyah Rogan at Mining.com.au
Images: Calidus Resources
