Make Kitco Your Homepage

Roxgold: 1Q Gold Output Totals 35,594 Ounces

Kitco News

Roxgold Inc. (TSX: ROXG), which achieved commercial production in October at its flagship Yaramoko Gold Mine in Burkina Faso, reports first-quarter gold production of35,594 ounces. The company says another highlight in the quarter included connection to the Burkina Faso high-voltage grid on Feb. 1, with 99% availability. Roxgold says it held cash of approximately $53 million as of quarter end, subsequent to $18.5 million of debt principal repayments. The first gold pour at Yaramoko was in May 2016. The company also announces an updated estimate of mineral reserves for the mine, listing end-of-2016 measured and indicated mineral resources at 738,000 ounces of gold at 17.1 grams per tonne, a decline of 9% due to mine depletion last year and a lower gold-price assumption. Estimated proven and probable gold reserves decreased by 13% from 759,000 ounces of gold to 662,000.

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 precious metal products, 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