Karora Q3 Gold Production Hits 24,717 Ounces

Karora Resources (TSX: KRR) this morning reported its production results for the third quarter of 2020, announcing a total consolidation gold production figure of 24,717 ounces of gold. Prodction came from both the Beta Hunt and Higginsville mines located in Western Australia.

During that time frame, the company sold a total of 22,912 ounces of gold, with the difference between production and sales said to be attributed to the timing of gold deliveries to the Perth Mint. An average price per ounce was not provided for the period. It was indicated however that cash reserves climbed 34% during the three month period, from $50.2 million to $67.3 million.

Commenting on the figures, CEO Paul Andre Huet acknowledged that the year to date production figure of 73,612 ounces of gold is in line with guidance. Karora has currently guided for total production of 90,000 to 95,000 ounces at an all in sustaining cost of US$1,050 to $1,200 per ounce.

While the all in sustaining cost was not yet provided for the third quarter, Huet acknowledged that they remain on track to hitting their target of US$1,000 per ounce by years end.

Karora Resources last traded at $3.74 on the TSX.

Information for this briefing was found via Sedar and Karora Resources. The author has no securities or affiliations related to this organization. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security. The author holds no licenses.

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