Norton Gold Fields Limited (ASX: NGF) has revised down its projected gold production for FY2010 to 175,000 ounces, after lower than expected production in the September quarter of 30,165 ounces.
Norton Gold Fields managing director Jon Parker said the 175,000 ounce production forecast, which is down 12 per cent on recent presentations by the company, was due to a number of factors, including a delay in obtaining regulatory approvals to begin mining at its Janet Ivy prospect in Western Australia.
All projects are now delivering ore at projected mining rates and grades, which augers well for Norton Gold Fields, one of the largest ASX-listed domestically-owned gold producers.
Janet Ivy is now in full production. Waldon is being pre-stripped and due to deliver first ore on schedule in November. Homestead underground development continues to be within schedule to deliver high grade feed to the mill in December. Its high grade feed will step up the production rate significantly, and make a major contribution to gold output in addition to the open cut base load ore supply.
As outlined in the Life of Mine plan, FY2010 sees a substantial repositioning of the Paddington operations involving commissioning of the Janet Ivy open cut, construction of a haul road, prestripping of the Waldon and Navajo open cuts, and completing development and starting production at the Homestead high grade underground project.