Resources & Energy Group (ASX:REZ) said it completed its second gold doré pour at the East Menzies gold project in Western Australia and minted 34.14 ounces of gold at an average sale price of around AU$4,730 per ounce, generating total proceeds of around AU$160,000, according to a Tuesday Australian bourse filing.
The third gold pour is imminent, and it is implementing refinements to enhance future production rates. While the firm initially expected gold pours around every three weeks, the trial phase revealed that higher-than-expected clay and fines content in the ore significantly reduced vat permeability and slowed percolation.
It is awaiting approval from the Western Australian Department of Energy, Mines, Industry Regulation, and Safety to commission up to eight additional vats, where improvements from the trial phase will be applied to achieve better percolation, faster cycle times, and higher gold recovery.
Its shares rose 6% on market close on Tuesday.
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