Great Central to double output

Australian-based Great Central Mines (NASDAQ) expects its gold production in the first quarter will be double that of the previous 3-month period.

The company produced 48,291 oz. gold at a cash operating cost of US$244 per oz. during the fourth quarter of 1995.

At the Bronzewing gold mine, which accounts for most of the production, costs have been kept to US$230 per oz. Forecasts call for even lower costs in the coming quarter, to US$195 per oz.

At the Jundee gold mine, which started up in December 1995, output is expected to total 42,000 oz. in the first quarter, and cash costs are expected to drop to US$204 from US$337 per oz.

The mines lie in the Yandal greenstone belt north of Kalgoorlie in Western Australia.