- Karora (KRR) achieved record gold production and sales in 2022
- Annual production reached 133,836 ounces, breaking the previous production record by almost 20 per cent
- Annual gold sales reached 132,047 ounces
- Karora Resources is targeting gold production of 185,000-205,000 ounces by 2024 from its mines in Western Australia
- Karora (KRR) is up by 0.9 per cent, trading at $5.58 per share
Karora (KRR) achieved record gold production and sales in 2022.
Annual production reached 133,836 ounces from its Beta Hunt and Higginsville mines in Western Australia, breaking the previous production record by almost 20 per cent.
Annual gold sales reached 132,047 ounces.
Q4 production was strong at 37,258 ounces, while sales were 39,849 ounces.
The news is a marked improvement from Q1 and Q2 2022, which faced temporary worker shortages due to COVID-19.
Karora’s unaudited cash balance as of December 31, 2022, was $68.7 million, a QoQ increase of $12.6 million.
Full-year audited 2022 results are slated for March 2023.
“Record 2022 gold production places us at the high end of our full-year 2022 guidance range of 120,000–135,000 ounces,” stated Paul Andre Huet, Karora’s Chairman and CEO. “I am proud of our team for once again delivering on our operational plan and achieving our targeted production level for 2022 while facing numerous headwinds.”
Karora Resources is targeting gold production of 185,000-205,000 ounces by 2024 from its mines in Western Australia.
Karora (KRR) is up by 0.9 per cent, trading at $5.58 per share as of 1:21 pm EST.