Endeavour 4Q Gold Output Rises After Start-Up Of Hound?(C) mine
Endeavour Mining (TSX: EDV;OTCQX: EDVMF) says the Hound?(C) mine start-up lifted group production by 38% fromthe third to fourth quarter to 204,000 ounces, while decreasing group all-insustaining costs by 13% to $784 an ounce. Full-year 2017 production was up 14%to 663,000 ounces, attaining the top half of the guidance range of 630,000 to675,000. AISC were put at $869, within guidance of $850 to $895. For 2018, thecompany looks for output to increase to 670,000 to 720,000 ounces and for AISCof $840 to 890. S?(C)bastien de Montessus, president and chief executive officer,says AISC fell below $800 in the fourth quarter for the first time inEndeavour’s history. “Our project development team successfully completed theHound?(C) mine on time and on budget, two months ahead of schedule, allowing theteam to seamlessly transition to the Ity CIL project, which remains on trackfor first gold pour in mid-2019,” the CEO says. “Organic growth was furtherenhanced through our reinvigorated exploration program, which is on track todelivering the ambitious five-year discovery target set in 2016. Looking ahead,we expect the investment in Hound?(C) and optimization work at our Karma mine toposition us well to compensate for expected declines in production at Agbaou,which is transitioning to harder ore, thereby enabling us to increase guidancefor 2018.”
By Allen Sykoraof Kitco News; asykora@kitco.com
Barrick Announces Investment in Royal Road Minerals Ltd.
Wednesday January 24, 2018 08:48
Barrick Gold Corp. (NYSE, TSX: ABX)says it has entered into a subscription agreement to acquire nearly 9.9 millionshares of Royal Road Minerals Ltd. (TSXV: RYR) for 16 cents each, totaling$1,580,140. The transaction is expected to close around Feb. 9. Barrick willthen own nearly 21 million shares, representing approximately 12.5% of RoyalRoad’s outstanding shares, Barrick says. “Barrick has acquired the ordinaryshares for investment purposes,” the company says.
By Allen Sykoraof Kitco News; asykora@kitco.com
Avesoro Resources ProjectsHigher Gold Output In 2018
Wednesday January 24, 2018 08:48
Avesoro Resources Inc.(TSX, LSE: ASO),a West African gold producer, projects consolidated annual production for 2018of between 220,000 and240,000 ounces, which would be a 15% to 25% increase from 2017. “We begin 2018 well positioned to continue to increase gold productionlevels and to further reduce operating costs at our New Liberty, Youga andBalogo Gold mines,” says Serhan Umurhan, chief executive officer. The companyreports that it has also completed a previously announced share consolidation.
By Allen SykoraFor Kitco News
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asykora@kitco.com Disclaimer: The views expressed in this article are those of the author and may not reflect those of Kitco Metals Inc. The author has made every effort to ensure accuracy of information provided; however, neither Kitco Metals Inc. nor the author can guarantee such accuracy. This article is strictly for informational purposes only. It is not a solicitation to make any exchange in commodities, securities or other financial instruments. Kitco Metals Inc. and the author of this article do not accept culpability for losses and/ or damages arising from the use of this publication.