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Teranga Gold Corp. (TSX:TGZ,ASX:TGZ) released an update on its 2014 production performance and the progress it’s making on a number of near- and medium-term growth initiatives.
Teranga Gold Corp. (TSX:TGZ,ASX:TGZ) released an update on its 2014 production performance and the progress it’s making on a number of near- and medium-term growth initiatives.
The company is on track to meet its production guidance of 220,000 to 240,000 ounces of gold this year.
Further highlights include:
- First ore mined from Masato on September 2nd
- Drilling confirms high-grade mineralization in Masato
- Gora development on schedule
- Mill optimization expected to increase throughput 5 to 10%
- Preliminary heap leach test results positive
- 2015 cash flows expected to improve by $40 to $60 Million from Base Case
- Strengthening balance sheet – expect to be debt free by year-end
- Expect to generate free cash flow in 2015
Click here to read the full Teranga Gold Corp. (TSX:TGZ,ASX:TGZ) press release.