Harmony: On Track For Annual Production Guidance
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; firstname.lastname@example.org
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.