Avesoro Resources Inc. Reports Unaudited Earnings and Operating Results for the Third Quarter Ended September 30, 2017; Provides Production Guidance for the Year 2017
For the quarter, the company reported total gold production of 19,885 ounces, a 26% increase on the prior quarter, and a 38% increase on third quarter of 2016. Ore mined was 247,000 tonnes, an increase of 15% on the prior quarter at an average grade of 2.75g/t, an increase of 4% on the previous quarter.
Gold production for the full year 2017 is expected to be between 70-80koz at an operating cash cost of between USD 900-950 per ounce with unit mining costs reducing during fourth quarter of 2017 as material movement ramps up throughout the dry season following the arrival of additional Heavy Mining Equipment.