Australia's Kaiser Reef rises on production increase at Victoria mine

Kaiser Reef

16/06/2023 04:41

** Shares of gold miner Kaiser Reef  KAU.AX  climb as much
as 5% to A$0.21, their highest since June 7
    ** Co announces production increase at the A1 mine in
Victoria, with monthly ore mining rates targeting 4,000 to 5,000
tonnes per month, up from current 2,000 to 2,500 tonnes per
month
    ** Says the increased production rate will be supported by
the high voltage power upgrade, further underground remote
mining fleet purchases, among others
    ** Co also commissioned a programmable logic controller and
fully digital SCADA control system upgrade at the processing
plant at Maldon
    ** More than 400,000 shares have changed hands, compared
with the 30-day average of about 197,000 shares 
    ** Stock up ~21.2% this year as of last close 
    


 (Reporting by Upasana Singh in Bengaluru)
 ((Upasana.Singh@thomsonreuters.com))