Tiger Resources meets Kipoi 2013 copper guidance

THE DRILL SERGEANT: Tiger Resources (ASX: TGS) has informed the market it achieved its 2013 production guidance of 41,000 to 43,000 tonnes of copper-in-concentrate at the company’s Kipoi copper project in the Democratic Republic of Congo (DRC).

Tiger said it produced 41,255 tonnes of copper for the 12 months to 31 December 2013 at the Stage 1 heavy media separation (HMS) plant at Kipoi.

“For the plant to achieve our updated production guidance of more than 41,000 tonnes – exceeding our initial guidance by more than 4,000 tonnes – is extremely satisfying and is testament to the commitment of our staff on the ground as well as our management team,” Tiger Resources managing director Brad Marwood said in the company’s announcement to the Australian Securities Exchange.

“The HMS has been operating well above nameplate capacity for most of 2013.”

Tiger’s 2014 production guidance for the HMS plant at Kipoi is 39,000t of copper in concentrate, up 85 per cent from the original guidance of 21,000t.

The HMS plant’s average operating cash cost for 2014 is forecast to be $0.30 per pound of copper produced.

Tiger also declared its Stage 2 solvent-extraction electro-winning (SXEW) plant at Kipoi is on schedule to commence production of copper cathode in Q2 2014.

The company anticipates producing 25,000t of copper cathode in the first full 12 months of production at the SXEW plant, and 50,000t per year from then on.

Email: tiger@tigerez.com

Website: www.tigerresources.com.au