The Cracow underground gold operation is located 500km north-west of Brisbane, Queensland, on the traditional lands of the Wulli Wulli People. Our local communities are Cracow and Theodore. The operation has been a consistent and reliable producer since mining began in 2004. The current mine life is out to 2023 however Cracow has a long track record for replacing mining depletion and maintaining a three to five year mine life.
Total FY19 gold production of 80,983oz was within guidance of 80,000 – 85,000oz. AISC of A$1,272/oz was also within guidance of A$1,250 – A$1,300/oz. Full year mine operating cash flow was A$63.3 million. Net mine cash flow was A$36.1 million.
FY20 guidance: 82,500 – 87,500oz at an AISC of A$1,200 – A$1,250/oz.
Cracow’s ongoing commitment to innovation was demonstrated by the increase in gold recovery in the order of 2% from the installation of a high-intensity grinding mill (HIGmill) and the development of Production Optimiser technology for underground production drill rigs to reduce stope mining dilution. Continued improvement has also been seen with recent changes to stoping parameters to address dilution issues.
In 2019 we will continue to seek improvements and the most significant opportunities include: ore sorting; remote bogging from surface; and electric equipment.