Teranga Gold Sets New Production Records for Second Quarter Teranga Gold Corporation ("Teranga" or the "Company") (TSX:TGZ)(ASX:TGZ) is pleased to report its financial and operating results for the second quarter ended June 30, 2016.
Second Quarter 2016 Financial & Operating Highlights
- Surpasses more than 10 million hours worked without a lost time incident at the Company's Sabodala gold operation
- Best ever production(1) record of 52,540 ounces for second quarter and 123,267 ounces for first half of the year
- Mill throughput surpasses 1 million tonne milestone for only third time in Company's history
- All-in sustaining costs per ounce of $968(2), including all development capital and total cash costs per ounce of $619(2)
- 17 percent cash margin expansion
- Net profit attributable to shareholders of $6.1 million or $0.02 per share
- Significant growth in free cash flow per ounce to $97 from ($11) in the prior year quarter(3)
- 31 percent increase in cash balance since start of year; pro forma June 30, 2016 cash balance of $70.2 million(4)
- Teranga receives United Nations Global Compact Network Canada Sustainability Award
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