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(Kitco News) - Karora Resources (TSX: KRR) today announced record quarterly consolidated gold production of 39,810 ounces for the first quarter of 2023 from its Beta Hunt and Higginsville mines in Western Australia.
In a press release, Karora said that record first quarter gold production puts the company in a "very strong position right out of the gate" to reach its full year 2023 guidance range of 145,000 – 160,000 ounces.
Chairman and CEO Paul Andre Huet commented, "I am extremely pleased to announce yet another quarterly production record for Karora. Our robust cash position is tracking in line with budget as planned while completing the development work on the second decline during the first quarter, continuing with the addition of three new vent raises (the first being complete) as well as adding new equipment to the fleet – all within our guided capital plan.
"Overall, I am very pleased with our performance in the first quarter as we continue to deliver on promises and maintain our growth momentum - all while generating significant cash to fund our growing business, aggressive exploration program and ensure the safest and most productive work environment possible with increased activity across our operations."
Karora is focused on increasing gold production to a targeted range of 170,000-195,000 ounces by 2024 at its integrated Beta Hunt gold mine and Higginsville gold operations ("HGO") in Western Australia. The company indicated that HGO has a substantial mineral gold resource and reserve and prospective land package totaling approximately 1,900 square kilometers.
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