Aguia Resources (ASX:AGR) has reported an operational improvement at its Santa Barbara Gold Project in Colombia, following a comprehensive review and restructuring of the mine.
Independent Mine Engineer Ken Nipius conducted an audit that led to the implementation of streamlined operations, a 50% reduction in staffing to a single shift of 25 personnel, and the adoption of batch processing techniques.
These measures, combined with process optimisation and enhanced metallurgical practices, have delivered a marked improvement in gold recovery rates, with December recoveries reaching 70%—a 45% increase compared with the July–November average—and set the stage for exceeding 80% in the coming months.
December gold sales are expected to total approximately $120,000 at an average price of $5,949 per ounce.
CEO Tim Hosking said the changes demonstrate that Santa Barbara is a high-grade, well-endowed mineralised system capable of efficient, cost-effective production, with future plans including continued underground development, selective extraction of high-grade ore, and expanded exploration drilling in 2026 to define a maiden JORC mineral resource estimate.
At the time of reporting, Aguia Resources' share price was $0.023.