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The revised cost estimates are due to higher expected future costs, the new life-of-mine plan, and the doubling of royalties by the Zambian government.
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Gold production dropped to 42, 723 ounces on the quarter, a steep decline from 154, 936 ounces of gold in the comparative quarter in 2011 due to the revised mine plan and an unexpected amount of till waste during the restart of the mill process in October.
FORBES: Third Quarter Operational and Financial Results
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Then, changes in the mine plan delayed access to higher-grade material, as well as a slower ramp-up of the DOZ mine, Adkerson expained.
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The current Ekati mine plan calls for a further seven years of production, but there are additional resources which could become economic with increased diamond prices.
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The Plan B would drill at an 85 degree angle into an area of mine shaft that is used as a mechanical workshop.
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Under Plan B, a hole is being drilled at a roughly 80-degree angle into an area of the mine shaft that is used as a mechanical workshop.
CNN: STORY HIGHLIGHTS
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According to Golborne, the first stage of drilling on Plan B has reached a depth of 1, 640 feet (500 meters) and will pierce the ceiling of the mine shaft where the men are trapped this weekend.
CNN: STORY HIGHLIGHTS