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Teranga Gold Corp. (TSX:TGZ,ASX:TGZ) announced that during Q4 its gold production came in lower than guidance had indicated as a result of “slightly lower rates than planned.”
Teranga Gold Corp. (TSX:TGZ,ASX:TGZ) announced that during Q4 its gold production came in lower than guidance had indicated as a result of “slightly lower rates than planned.” Nevertheless, gold output came to 71,278 ounces, the company’s second-highest amount ever.
Also during the quarter Teranga retired the outstanding balance of its loan facility and increased the balance of its cash and cash equivalents to $35.7 million.
As quoted in the press release:
Ore was sourced from both the Sabodala and Masato pits, with soft ore from the recently developed Masato pit contributing to higher throughput rates. Gold production of 71,278 ounces during the fourth quarter of 2014 was 47 percent higher than third quarter production in 2014, and 36 percent higher compared to the same prior year period. Full year production of 211,823 ounces represents the second highest production total in Company history.
Click here to read the full Teranga Gold Corp. (TSX:TGZ,ASX:TGZ) press release.