- Karora (KRR) is announcing record Q3 gold production of 38,437 ounces
- The figure is 25 per cent above the previous record set in Q2 2022
- The company attributes the result to optimizing its processing capabilities after bringing a second mill (Lakewood) online
- Karora Resources is a gold producer operating two projects in Western Australia
- Karora (KRR) is down by 5.2 per cent, trading at $2.73 per share
Karora (KRR) is announcing record Q3 gold production of 38,437 ounces.
The figure is 25 per cent above the previous record set in Q2 2022 and includes 2,436 ounces of coarse gold from its Beta Hunt mine.
The company attributes the result to optimizing its processing capabilities after bringing a second mill (Lakewood) online, which increased its total capacity to 2.6 Mtpa.
Gold sales for the quarter reached 35,513 ounces.
Karora intends to grow production to 185,000 to 200,000 gold ounces per year within the next few years.
Its consolidated unaudited cash balance was $56 million as of September 30, 2022.
“The third quarter was very strong operationally for Karora, particularly following the incorporation of the newly acquired Lakewood Mill into our operations, which began in August,” stated Paul Andre Huet, Karora’s Chairman and CEO. “I would like to acknowledge the efforts of our milling and processing teams in achieving this impressive milestone right out of the gate.”
Karora Resources is a gold producer operating the Beta Hunt Gold Mine and Higginsville Gold Operations in Western Australia.
Karora (KRR) is down by 5.2 per cent, trading at $2.73 per share as of 9:40 am EST.