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Cetamin quarterly gold production, sales rise in Q1
StockMarketWire.com
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Cetamin reported a rise in quarterly gold production and sales that keeps the mining company on track to meet its annual output guidance.
Gold production in Q1 was 104,047 ounces, up 53% from Q4, but down 17% from the prior-year period.
Revenue rose 53% to US$190 million on gold sales of 106,573 oz, up 34% from Q4, but down 24% from the prior-year period.
The rise in quarterly production was driven by 'improved open pit and underground mined grade, resulting in a 34% increase in feed grade; and a 17% reduction compared to the first quarter of 2020, reflecting the conclusions of the Life of Asset Phase 1 and three-year outlook presented in December 2020,' the company said.
The company maintained its 2021 gold production guidance in range of 400,000 to 430,000 oz, split equally across H1 and H2.
Story provided by StockMarketWire.com
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