Savuka

  • JSE: R172.66 0.00%
  • NYSE:$9.33 +0.86%
  • GOLD:$2 361/oz +0.35%
  • GOLD:R1 389 207/kg +0.4%
  • USD:ZARR18.30 +0.02%
  • At 23:47pm, 28 May 2024

Overview

Savuka plant is situated near the town of Carletonville and was acquired from AngloGold Ashanti Limited in October 2020. The plant originally treated both waste rock and tailings but was converted to a tailings treatment facility only in October 2021 when the milling section of the plant was decommissioned.

As at 30 June 2023

  • Gold Resource: 0.40Moz
  • Gold Reserve: 0.20Moz
  • LoM: 5 years

Operating statistics FY23

Production

593kg / 19 066oz

Grade

0.153g/t

Workforce

203

All-in sustaining cost

US$989/oz

Operating performance FY23

The operation processed 3.88 million tonnes in FY23, 20% more than the 3.23 million tonnes processed in FY22. The recovered grade remained constant at 0.153g/t in FY23 (FY22: 0.153g/t). The higher tonnes processed resulted in a 20% increase in gold produced to 593kg (19 066oz) from 495kg (15 914oz) in FY22.

The increase in gold production combined with an 11% increase in the gold price resulted in a 29% rise in revenue to R614 million (FY22: R475 million). The increase in production also offset higher year-on-year cash operating cost for the operation with the all-in sustaining cost decreasing 8% to R564 738/kg (FY22: R615 137/kg). Capital expenditure for FY23 at R16 million was 43% lower than the previous year (FY22: R28 million), mainly for plant maintenance.

OUTLOOK FOR FY24

Continue safe operations and deliver operational excellence through a combination of a good health and safety environment, cost competitiveness and improving process efficiencies. Production guidance for FY24 is approximately 15 750oz.