- Karora (KRR) produced 30,652 ounces of gold in Q2 at its Beta Hunt and Higginsville mines in Australia
- Q2 gold sales came to 30,398 ounces
- Production is on track to meet full-year guidance
- Karora Resources is a multi-asset mineral resource company focused on precious metals
- Karora (KRR) is down by 7.27 per cent trading at $2.615 per share
Karora (KRR) produced 30,652 ounces of gold in Q2 at its Beta Hunt and Higginsville mines in Australia.
Q2 gold sales reached 30,398 ounces.
The company’s unaudited cash balance was $114M as of June 30, 2022, approximately $36M higher than March 31, 2022, due to a sizeable bought-deal financing arrangement.
The second decline at Beta Hunt is on budget with an estimated completion date of Q1 2023.
Karora intends to increase gold production to 185,000-205,000 ounces by 2024, driven by the second decline at Beta Hunt and the pending acquisition of the Lakewood Mill.
“I am very proud of our gold production of 58,141 ounces for the first half of 2022, which remains in line with our full-year 2022 guidance,” stated Paul Andre Huet, Karora’s Chairman and CEO.
Karora Resources is a multi-asset mineral resource company focused on the acquisition, exploration, evaluation and development of precious metal properties.
Karora (KRR) is down by 7.27 per cent, trading at $2.615 per share as of 1:22 pm EST.