The ASX-listed miner said the pleasing 29% increase in output was in line with the company’s goal of producing approximately one million tonnes per annum over the 2011 financial year.
Total output for the Caotang mine in the Fengjie country reached approximately 740,100t during the financial year, but dipped to 80,400t or 63% in the fourth quarter compared to the third quarter of 2011.
It was the same story for Blackgold’s Heiwan mine, which produced approximately 203,600t during the FY2011.
Output, however, dropped to 42,700t in Q4, a dip of 39% from Q3.
Blackgold said the acquisition of the QiJiang ChangHong in August for $A14.4 million was a major highlight for the company, bringing the total number of thermal coal mines owned by the company to four.
The QiJiang ChangHong mine borders Xishui county of Guizhou and is located within 50km of the company’s existing office in Chongqing.
Following the completion of restructuring production tunnels and installing gas detector equipment, Blackgold said the mine would be ready for production in FY2012.
Looking ahead to 2012, Blackgold said it had commissioned AM&A to undertake further geological exploration and evaluation work at the QiJiang ChangHong mine.
The evaluation work would enable the conversion of existing PRC geological data at the mine into a JORC-compliant defined resource.
The company also said it would continue to size up acquisition opportunities and was currently in the process of evaluating a number of potential new mine acquisitions.
