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Harmony: On Track For Annual Production Guidance

Kitco News

Harmony Gold Mining Ltd. (NYSE: HMY; JSE: HAR) says that its annual gold production guidance of 1.05 million ounces for the fiscal year is “well in reach,” with production of 812 000 ounces for the first nine months. The company’s underground average recovered grade remains above 5 grams per tonne, with all-in sustaining costs for the nine months ended March 31 coming in at $1,170 an ounce, the company says.  Quarter-on-quarter gold production was 7% lower mainly due to a slow start-up after the December holidays, Harmony says. “The fundamentals underpinning our mine plans enable us to achieve our annual production guidance,” says Peter Steenkamp, chief executive officer.

By Allen Sykora of Kitco News; asykora@kitco.com

 

Sandstorm Lists 1Q Profit, Record Gold-Equivalent Ounces

Tuesday May 9, 2017 08:09

Streaming and royalty company Sandstorm Gold Ltd. (NYSE MKT: SAND) reports first-quarter net income of $7 million, compared with $13.2 million for the comparable period in 2016. Revenue rose to $18.8 million from $13.4 million, helped by a 3% rise in gold prices and an increase to record gold-equivalent ounces sold of 15,558 ounces, up from 11,381 for the comparable period in 2016.  During the three months ended March 31, company acquired 22 royalties for $1.9 million.

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.

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