logo
Plus   Neg
Share
Email

Acacia Mining Q1 Gold Production Down; Says On Track To Achieve Production View

Acacia Mining plc (ACA.L) reported that its gold production for the first-quarter declined 13% to 104,899 ounces from the prior year period mainly due to lower production at North Mara and Buzwagi. Gold ounces sold for the quarter of 104,985 ounces were in line with production.

The company said it remains on track to achieve gold production guidance for the year of 500,000 to 550,000 ounces.

At North Mara, gold production for the first-quarter of 66,324 ounces was 14% lower than the prior year of 76,769 ounces, mainly driven by the consequences of a fall of ground in the Gokona underground mine at the end of December 2018 as well as an excavator breakdown in the Nyabirama open pit.

Buzwagi gold production of 28,577 ounces for the quarter was 20% lower than the prior year of 35,685 ounces but in line with expectations as a result of the mine having fully transitioned to a lower grade stockpile processing operation.

The company stated that it will release its 2019 first quarter results on 25 April 2019.

For comments and feedback contact: editorial@rttnews.com

Business News

Editors Pick
Alibaba is upgrading its intellectual property system using blockchain technology, according to local news outlet Sohu. Alibaba Platform Management expects this to benefit mainly small and medium-sized enterprises, brands and entrepreneurs. The technology will be fully implemented in September, and thereafter, the company intends to expand it to the field of digital copyright protection. Electronics retailer Best Buy Co., Inc. (BBY) reported Thursday a 27 percent increase in profit for the first quarter from last year, which was impacted by restructuring charges, and higher revenues. Both adjusted earnings per share and revenues for the quarter topped analysts' estimates. The company also provides guidance for the second quarter and reiterated its outlook for the full-year 2020. While reporting financial results for the second quarter on Thursday, Hormel Foods Corp. (HRL) lowered its earnings and net sales guidance for the full-year 2019. For fiscal 2019, the company now projects earnings in a range of $1.71 to $1.85 per share, and net sales between $9.70 billion and $10.20...
Follow RTT