By Karora Resources, a leading gold mining company, has announced that its full-year gold output for 2023 surpassed the production levels of the previous year. Thanks to a robust performance from its Beta Hunt and Higginsville mines in Western Australia, the company was able to achieve impressive results in the fourth quarter.
Impressive Production Results
In 2023, Karora produced a total of 160,492 ounces of gold from its two prominent mines, marking an increase of more than 26,000 ounces compared to the previous year. These figures were slightly above the high end of the company’s guidance range for 2023, which was set between 145,000 and 160,000 ounces.
The fourth quarter proved to be particularly strong for Karora, with gold production reaching an impressive 40,295 ounces. This result stands as the second-highest quarterly production record in the company’s history.
Robust Gold Sales
Karora’s gold sales for 2023 amounted to a total of 157,034 ounces. However, due to timing differences in sales, the gold sold during the fourth quarter (2,856 ounces) was slightly lower than the amount produced. As a result, there was a minor decline in the quarter-over-quarter cash balance. Nevertheless, this decrease is expected to be recovered through sales during the first quarter of 2024.
Karora Resources has demonstrated its strong mining capabilities by consistently surpassing production targets and delivering exceptional results. With its continued success in gold production, the company remains a key player in the mining industry.
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