Avesoro Resources Inc. reported unaudited earnings and operating results for the third quarter ended September 30, 2017. For the quarter, the company reported revenues of USD 25.5 million, from gold sales of 19,797 ounces, with an average realised gold price of USD 1,286 per ounce. Adjusted EBITDA was USD 5.5 million. Capital expenditure was USD 9 million.

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.