Make Kitco Your Homepage

Asanko Reports Second Straight Quarterly Output Record

Kitco News

Asanko Gold Inc. (TSX, NYSE MKT: AKG) reports record output for the second straight quarter, with first-quarter production of 58,187 ounces in line with 2017 production guidance of 230,000 to 240,000 ounces. Gold revenue was listed at $69.3 million at an average realized price of $1,199 per ounce. Asanko says 908,463 tonnes were processed, a new quarterly record, with a feed grade of 2.05 grams per tonne of gold. “Looking ahead, 2017 will be a year of two halves,” says Peter Breese, president and chief executive officer. “With the first half focused solely on mining fresh ore from Nkran, production volumes will be lower and costs will be higher compared to H2. In H2, as we bring our second pit, Dynamite Hill, into production, the softer oxide ore is cheaper to both mine and process and we expect that the incremental ore from Dynamite Hill, coupled with the Project 5 Million plant expansion, will deliver increased volumes and lower operating costs enabling us to meet our 2017 production and cost guidance.”

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.

Precious Metal Charts

Follow Kitco News