Globe & MailIt's unfortunate that this excellent NR is being released on what will likely be another bloodbath in the markets. GLTA
08:27 AM EDT, 10/13/2022 (MT Newswires) -- Karora Resources Inc. (KRR.TO) said Thursday that it booked record gold production of 38,437 ounces from its Beta Hunt and Higginsville mines in Western Australia during the third quarter.
Karora, which jumped 4.4% yesterday, said the output beat its previous record set in the second quarter by 25%. Gold sales stood at 35,513 ounces.
The miner attributed the improvement to the integration of the newly acquired Lakewood Mill into its operations in August. It also cited an additional coarse gold discovery that contributed 2,436 ounces of gold in third-quarter production.
"While we certainly enjoy these periodic coarse gold injections as we encounter the sedimentary band typically hosting coarse gold at Beta Hunt, it is important to note that we achieved a record quarter even without the additional coarse gold ounces - a testament to the track record of operational delivery we have established across our operations at Karora," Chairman and CEO Paul Andre Huet said.
Karora aims to grow production to 185,000 to 200,000 ounces per year of gold within the next couple years.