Karora Resources (TSX: KRR)
Announced record annual consolidated 2023 gold production of 160,492 ounces from its Beta Hunt and Higginsville mines in Western Australia.
Gold sales were also a record, totaling 157,034 ounces during 2023.
.
Gold in drill core from Karora Resources’ Beta Hunt mine, Western Australia
.
| Karora Resources | TSX: KRR |
| Stage | Production + Development + Exploration |
| Metals | Gold + Nickel |
| Market cap | C$791 million @ C$4.45 |
| Location | Kalgoorlie, Western Australia |
/
Karora Exceeds High End Of 2023 Gold Production Guidance With Record Annual Gold Production Of 160,492 Ounces And Record Gold Sales Of 157,034 Ounces
.
TORONTO, Jan. 15, 2024 /CNW/ – Karora Resources Inc. (TSX: KRR) (“Karora” or the “Corporation”) is pleased to announce record annual consolidated 2023 gold production of 160,492 ounces from its Beta Hunt and Higginsville mines in Western Australia.
Gold sales were also a record, totaling 157,034 ounces during 2023.
For the fourth quarter of 2023, gold production was a strong 40,295 ounces and sales were 37,439 ounces.
.
Paul Andre Huet, Karora Chairman & CEO, commented:
“I am extremely pleased to announce Karora’s seventh consecutive year of production growth.
“We produced a record 160,492 ounces of gold for 2023, exceeding 2022 production by over 26,000 ounces and beating the high end of our full year 2023 guidance range of 145,000 – 160,000 ounces.
“Gold production in the fourth quarter was a very strong 40,295 ounces, the second highest quarterly result on record.
“Due to the timing of sales, gold sold during the fourth quarter was 2,856 ounces lower than produced, contributing to a slight decrease in our quarter over quarter cash balance which will be recovered in sales during the first quarter of 2024.
“Our cash balance remains robust at $82.5 million and in line with our scheduled capital deployment program across our operations.
“With significant investments made in 2023, 2024’s capital program will focus on infrastructure and stope development required to ramp up our Beta Hunt operations to 2 Mtpa by the end of the year.
“I am proud of our team for once again delivering on our operational plan and exceeding our targeted production level for 2023.
“Overall, I am very pleased with our performance in 2023 and I look forward to continued growth in 2024 and beyond as we execute on the final year of our threeyear growth plan.
“Full year 2023 audited financial results are scheduled to be reported in mid-March 2024.”
.
To read the full news release, please click HERE
=======
If you need clarification of any information contained in this note, or have any questions, I will be delighted to assist – Please email andrew@city-investors-circle.com
=======
.
City Investors Circle is based in the financial district in the City of London
We present interesting and exciting junior mining companies listed on the ASX and TSX stock exchanges to a group of city professionals, and private investors, all of whom are active investors with a mandate to invest in junior mining companies.
Our audience is selected and invited individually to ensure interest and relevance for the presenting company.
Meetings are non deal, small group, highly focused and engaged, with a lively Q and A to follow the main presentation.
We create awareness, and maintain interest in presenting companies by disseminating their future news to our entire investor group via email, social media, and our Monthly Review newsletter.
If you wish to present to our select group of active mining investors, please email andrew@city-investors-circle.com
.
=======
,
This website is not sponsored, we are truly independent, and will always remain so.
Companies featured here have either presented to the Circle in London, or have been selected because they are considered to have interesting projects, in good jurisdictions, run by an experienced management team.
All information used in the preparation of this communication has been compiled from publicly available sources that we believe to be accurate and reliable, however, we cannot, and do not, guarantee the accuracy or completeness of this.
These articles are for awareness and informational purposes only, and are not recommendations in any form. Always consult an investment professional.
.
.
Disclosure
At the time of writing the author holds shares in Karora resources.
.