Karora Announces Record Annual Gold Production

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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.

 

 

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Karora Resources

Gold in drill core from Karora Resources’ Beta Hunt mine, Western Australia

 

 

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Karora Resources TSX: KRR
Stage Production + Development + Exploration
Metals Gold + Nickel
Market cap C$791 million @ C$4.45
Location Kalgoorlie, Western Australia

 

 

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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

 

 

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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.

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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.”

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To read the full news release, please click HERE

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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

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Disclosure

At the time of writing the author holds shares in Karora resources.

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