Kingsgate Consolidated Reassesses Challenger Gold Operation in South Australia

PERTH, AUSTRALIA--July 8, 2013--Researched by Industrial Info Resources Australia (Perth, Australia)--Amid Australia's recent economic instability, many companies have been examining their budgets in detail. Among the items being considered are reviewing expenses, which can include the tendering for contractors and suppliers that can supply goods and services at a more competitive price for the company. One company in this stage of analysis is Kingsgate Consolidated Limited (ASX:KCN), a successful gold production company that owns the Challenger underground gold mine in South Australia, located 740 kilometres northwest of Adelaide. The company is now incurring a $271.78 million impairment charge against the Challenger operation.