Karora Resources announced on Monday that it is making good progress towards reaching its full-year production target. The mining company reported an increase in gold output during the second quarter, indicating that it is well-positioned to achieve its 2023 guidance of 145,000 to 160,000 troy ounces. In the first half of this year, Karora saw a significant boost in production, with a 39% rise to 80,650 ounces. This growth was attributed to a 21% increase in tons milled and a 14% improvement in the average grade.
Furthermore, Karora confirmed its production guidance for 2024, projecting between 170,000 and 195,000 ounces of gold. Additionally, the company expects to see an increase in nickel output, with estimates ranging from 450 to 550 metric tons this year and 600 to 800 tons in the following year.
Karora Resources primarily focuses on the integrated Beta Hunt gold mine and Higginsville operations located in Western Australia. During the second quarter of this year, the company achieved an impressive production of 40,823 ounces of gold, representing a 2.5% increase compared to the previous quarter and a substantial 33% increase from the same period last year.
To complement this upsurge in production, Karora also experienced an increase in gold sales. In comparison to the first quarter's total of 36,145 ounces and the second quarter of last year's total of 30,398 ounces, gold sales for the second quarter of this year rose to an impressive 42,172 ounces.
Karora Resources is making great strides in the mining industry and remains determined to meet its production targets in the coming years.
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