13
Operations Report
Operations Report
Production and Costs
Production for the year was 133,681 ounces  
of gold and 1,000,569 ounces of silver.
Total mill throughput of 5.7 million tonnes was 
11.4% higher than 2012 despite the 63 days that 
the new plant was shut down during the process 
for the granting of its Metallurgical License. The 
overall plant availability was 98.1%.
Total cash costs for the year were $US767 per 
ounce ($US620 per ounce exclusive of Thai 
royalties). The average royalty paid to the Thai 
Government was $US147 per ounce of gold. Total 
production costs after depreciation and amorti-
sation were $US952 per ounce of gold produced. 
At year end, 9.7 million tonnes of ore was stock-
piled with an average contained gold grade of 
0.57 grams per tonne (g/t) representing 178,086 
ounces of gold.
Operational Performance
During the year 7.1 million tonnes of ore was 
mined, with a waste-to-ore strip ratio of 2.09:1. 
The average grade of mined ore was 0.72 g/t 
gold and 8.56 g/t silver.
Additional ore was generated by revising the 
mining sequence in A Pit Stage 2 and accessing 
near surface high grade oxide ore tonnes from  
Q Prospect.
Total volume of material mined at Chatree for 
the year was 8.4 million Bank Cubic Metres 
("BCM") including 2.7 million BCM of ore. 
An additional 566,000 BCM of laterite and  
clay material was excavated and used for the 
construction of the second lift of second tailings 
storage facility (TSF#2).
Some 1.3 million loose cubic metres (LCM) of 
ore was relocated from the Marginal Grade 
Stockpiles to the primary crusher to supplement 
ore from the mining pits.
Two areas were mined during the year:
〉〉 A Pit, where 8.3 million BCM of material was 
mined (2.7 million BCM of ore) at a stripping 
ratio of 2.09:1 waste to ore; and
〉〉 Q Prospect where 298 thousand BCM of 
material was mined (143 thousand BCM of 
ore) at a stripping ratio of 1.1:1 waste to ore.
The mechanical reliability and hence availability 
of the major fleet items has been below expecta-
tions over the last few years. 
continued
u
Gold Production
134
1001
2012/13
86
291
2006/07
74
232
2007/08
93
293
2008/09
1335502009/10
76
550
2010/11
1219182011/12
Silver Production
0
100
200
300 Ounces (‘000)400
500
600
700
800
900
1,000
1,100
Ore Mined
1,523
2,405
2006/07
977
2,474
2007/08
3,874
1,878
2008/09
6,5832,7052009/10
5,301
2,533
2010/11
4,9865,1162011/12
7,051
5,699
2012/13
Ore Treated Ore Grade
0
2,000
1,000
3,000
4,000Tonnes (‘000)
Ore Grade (grams/tonne gold)
5,000
6,000
7,000
8,000
0
2.0
1.0
3.0
4.0
5.0
6.0
7.0
8.0
84
440
2006/07
99
457
2007/08
87
401
2008/09
73
335
2009/10
102
479
2010/11
143
618
2011/12
185
767
2012/13
1,000
Cash Cost
(incl. Royalties)
Non Cash Cost
(incl. D&A)
Realised Gold Price
0
200
400
US$/ounce
600
1,200
1,400
1,600
1,800
800
Chatree – Production
Chatree – Ore Mined and Treated
Chatree – Cash Costs and Total Costs