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Bendigo said in its statement that it plans to produce 20,000-25,000 ounces of gold at Henty in the next six months at a cash cost of less than A$800/oz.
The company said it would update the mine's reserve status in September quarterly filings.
Henty was one of the smallest mines in its portfolio and produced 13,000 ounces in the first quarter of 2009, it said.
"Although Barrick continues to have a positive outlook for the gold price, the company believes Henty is a better fit for a smaller miner like Bendigo that can continue to operate the mine and look for opportunities to extend the existing mine life beyond December 2009," a Barrick spokesmen said.
-By James Campbell, Dow Jones Newswires; 65-64154-082; james.campbell@dowjones.com
(END) Dow Jones Newswires
07-06-09 0122ET
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