Roxgold: 1Q Gold Output Totals 35,594 Ounces
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.