Kingsgate Consolidated Limited reported consolidated production results for the fourth quarter and year ended June 30, 2015. For the quarter, the company reported total ore mined of 1,301,180 tonnes. Group quarterly gold production of 55,601 ounces at a total cash cost of $821 per ounces.

For the year, the company reported total ore mined of 5,277,234 tonnes. Group annual gold production of 205,245 ounces at a total cash cost of $833 per ounces.

Total gold production for Kingsgate for the 2016 financial year is expected to be between 165,000 and 180,000 ounces. Production from Chatree is expected to be a total of 125,000 to 135,000 ounces but, due to the current stripping schedule, will be heavily weighted to the second half of the year. Under the current mine plan, Challenger will exhaust the current Ore Reserves in the March quarter 2016 with a total of 40,000 to 45,000 ounces expected for the year. Work continues to explore options to extend the mine life at Challenger Kingsgate remains focused on continuous improvement and operating efficiencies that complement ongoing cost saving initiatives. It is targeting a further 20% reduction in overheads in fiscal year of 2016.