Karora reports record quarterly gold production in Australia
(Kitco News) - Karora Resources (TSX: KRR) today announced record quarterly consolidated gold production since the Higginsville acquisition of 29,831 ounces for the second quarter of 2021 from its Beta Hunt and Higginsville mines in Western Australia. Gold sales were also a record, with 30,412 ounces sold during the quarter.
The company said that second quarter gold production was approximately 20% higher than first quarter production. Production through the first two quarters of 54,525 ounces is in line with consolidated 2021 production guidance of 105,000 – 115,000 ounces.
During the second quarter, Karora announced its growth plan to more than double consolidated gold production by 2024. The company also forecasts that costs are to continue to decline, with 2024 AISC of US$885-US$985 per ounce via a phased expansion of Karora's Beta Hunt underground mine and increasing milling capacity to 2.5 Mtpa at the HGO processing facility.
Karora is focused on doubling gold production to 200,000 ounces by 2024 compared to 2020 and reducing costs at its integrated Beta Hunt gold mine and Higginsville gold operations in Western Australia. The company also owns the high grade Spargos Reward project which is anticipated to begin mining in 2021.