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Financial|Gold|Mining
Financial|Gold|Mining
financial|gold|mining

Kingsgate and Thailand extend arbitration period

4th October 2024

By: Creamer Media Reporter

     

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ASX-listed Kingsgate and Thailand have extended the holding period for the arbitral award under the Thailand-Australia free trade agreement until September 30, 2025.

This extension follows recent political developments in Thailand, including the appointment of a new Prime Minister and a new Mining Minister.

“Both parties agree that the extended timeframe of 12 months is appropriate to allow the new government to take shape and to provide sufficient time to pursue a mutually satisfactory resolution of the outstanding issues,” said Kingsgate in a statement.

The company stressed that extending the holding period of the arbitral award did not impact on the continued ramp-up of the Chatree gold mine.

In the 2025 financial year, the company will produce between 80 000 oz and 90 000 oz of gold, and between 500 000 oz and 600 000 oz of silver, for gold-equivalent production of 86 000 oz to 97 000 oz at an all-in sustaining cost of $1 650/oz to $1 800/oz.

Edited by Creamer Media Reporter

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