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Acacia Mining Q2 Gold Production Climbs; Says Confident Of FY Production View

Acacia Mining plc (ACA.L) Monday reported that its second-quarter gold production climbed 19 percent from last year to 158,774 ounces, mainly driven by 39 percent higher production at North Mara, despite expected reductions in production at Buzwagi and Bulyanhulu.

Sequentially, production climbed 51 percent, following the successful implementation of revised mining plan at North Mara for both the underground and open pit mines which saw production at the mine increase by 80% over the period.

Buzwagi gold production of 30,283 ounces fell 19 percent. Bulyanhulu produced 9,377 gold ounces, down 10 percent.

Gold ounces sold for the second quarter was 143,325 ounces, 10 percent below production due to the timing of the company's gold shipments from North Mara which were weighted towards the end of June.

Acacia plans to release second quarter results on August 7.

Looking ahead, Peter Geleta, Interim Chief Executive Officer, said, "We remain confident of achieving production within our guidance of 500,000 to 550,000 ounces for the year."

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