By Robb M. Stewart
Karora Resources said Monday it was on track to hit its production target for the year after the gold miner’s output in the first three months was boosted by stronger-than-expected grades and higher-than-anticipated tons mined and processed.
On guidance:
The Toronto-based company said production ended the first quarter of the year on track to achieve full-year guidance of 145,000 to 160,000 troy ounces.
On production:
Karora, which is focused on increasing gold production to between 170,000 and 195,000 ounces by 2024 at its integrated Beta Hunt mine and Higginsville operations in Western Australia, reported first-quarter output of 39,827 ounces, up 6.7% from the quarter before and 45% higher than the same period last year.
The company said Beta Hunt produced 26,577 ounces, up 55% on a year earlier, while Higginsville production was 28% higher at 13,250 ounces.
Write to Robb M. Stewart at robb.stewart@wsj.com
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