Precious Metals

IBTimes reported that Teranga Gold (TSX:TGZ) is lowering its annual production forecast, citing delayed access to gold zones.

IBTimes reported that Teranga Gold (TSX:TGZ) is lowering its annual production forecast, citing delayed access to gold zones.

As quoted in the market news:

The Toronto-based miner, which has ordered three new drill rigs in response to the delays, now expects gold production this year between 130,000 ounces and 135,000 ounces and total 2011 cash costs of $875 to $925 per ounce compared to previous guidance of $850 to $875 per ounce.

Click here to read the full IBTimes report.

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