Avesoro Resources Inc. Provides Production and Capital Expenditure Guidance for the Year 2017
January 26, 2017 at 02:00 am EST
Avesoro Resources Inc. provided production and capital expenditure guidance for the year 2017. For the year, the company's annual production guidance of 90,000 ounces to 100,000 ounces of gold at a cash cost of $750 - $800 per ounce of gold produced and an all-in sustaining cost of $925 - $975 per ounce of gold produced from its New Liberty Gold Mine in Liberia. Capital expenditure in 2017 is forecast to be approximately $24 million, comprising $10 million of non-sustaining capital allocated to enhance operations and $14 million of sustaining capital, a significant portion of which is non-recurring and relates to expenditure deferred from previous years. Exploration spend throughout 2017 is forecast to total $5 million and be focussed upon discovering additional mineable near mine satellite deposits.