Roxgold increases Q1 2021 production 9%, on track to meet annual guidance
(Kitco News) - Roxgold (TSX: ROXG) (OTCQX: ROGFF) announced today that its Yaramoko mine complex in Burkina Faso produced 35,308 ounces of gold in Q1 2021, based on processing 127,667 tonnes at an average head grade of 8.0 g/t and mill recoveries of 97.9%.
Roxgold's Q1 2021 production was 9% higher than in the corresponding period of 2020 (32,380 ounces). The company said that its Q1 2021 operating performance placing the company well on track towards achieving Roxgold's annual production guidance target of 120,000 to 130,000 ounces.
Roxgold also reported quarterly gold sales of 33,962 ounces at an average realized gold price of $1,785/oz. Gold ounces sold were lower than production due to the timing of gold shipments at the end of the quarter.
"Roxgold has continued its long track record of operating excellence with a strong operating quarter at our Yaramoko mine complex, whilst our development and exploration teams have continued to have remarkable success advancing and growing our Séguéla gold project in Côte d'Ivoire towards a construction decision later this year," commented President and CEO John Dorward.
Based upon Q1 production results, Roxgold said it is slightly ahead of expectations and remains on track to deliver between 120,000 and 130,000 ounces of production from Yaramoko absent any significant deterioration in operating conditions. The production and cost guidance assumes no material operational impacts due to COVID-19.
Roxgold is a Canadian-based gold mining company with assets located in West Africa. The company owns and operates the high-grade Yaramoko mine complex located on the Houndé greenstone belt in Burkina Faso and is advancing the development and exploration of the Séguéla gold project located in Côte d'Ivoire.