Waikaia Gold: Business as usual

Last updated 05:00 22/08/2014

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While falling gold prices have caused the demise of goldmining operations at Earnsleugh, near Alexandra, it is business as usual for Waikaia Gold.

Northern Southland's Waikaia Gold operates the second-largest gold mine in the country, recovering 16,000 to 20,000 ounces of gold annually.

The mine employs 20 fulltime and three casual workers and earthmoving company Rosco Contracting, of Reefton, employs 15 staff onsite.

Waikaia Gold company director and onsite project director Sam March said business at the mine was "going along well" and falling gold prices had not affected the venture.

"Having said that, I wouldn't want to see the gold price drop below $1000 an ounce. Right at the moment it's $1500 an ounce," March said.

Waikaia recovered a higher grade of gold than the Earnscleugh operation, he said.

"At Waikaia we believe we have a very robust resource and our recovered grades are better than our reserves."

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