2018-01-10 07:49 ET -
News Release
Mr. Richard Young reports
TERANGA GOLD EXCEEDS 2017 PRODUCTION GUIDANCE AND DELIVERS RECORD OUNCES; PROVIDES 2018 PRODUCTION GUIDANCE
Teranga Gold Corp. had record gold production of 233,267 ounces in 2017, exceeding the high end of its annual production guidance range of 205,000 to 225,000 ounces. (All amounts in U.S. dollars unless otherwise indicated.)
Due to higher production and gold prices, the company ended the year with a strong cash position of approximately $88-million, an increase of $15-million from Sept. 30, 2017.
The company's strong financial position supports its ability to finance its next mine -- Banfora, which has been renamed Wahgnion to reflect the wishes of the local community. Early works activities at Wahgnion are under way in the lead-up to closing a project debt facility and the commencement of mill construction both anticipated to occur in the second quarter of 2018.
"Our operational focus on generating free cash flow at Sabodala is paying off," said Richard Young, president and chief executive officer. "With record mill throughput and positive reconciliation to ore reserve estimates, Sabodala achieved record gold production for the second consecutive year and exceeded 2017 production guidance. Our five-year profile for Sabodala estimates free cash flow of $230-million between 2018 and 2022, including approximately $90-million in free cash flow over the next two years (1) (2)."
All 2017 numbers are preliminary and unaudited and subject to final adjustment.
2018 production outlook
The company is forecasting gold production at Sabodala of between 210,000 and 225,000 ounces of gold in 2018 (3). This compares favourably with the 2018 production estimate of 213,000 ounces outlined in the 2017 Sabodala National Instrument 43-101 technical report filed on Aug. 30, 2017.
Added Mr. Young: "We are excited about 2018. Our expectations are for another year of strong production and cash flow at Sabodala as well as continued organic growth. Our top priority is to close the financing and proceed with construction of Wahgnion. In addition, we are aggressively advancing exploration programs at both Golden Hill in Burkina Faso and Afema in Cote d'Ivoire. With a long-life mine that provides solid annual gold production and free cash flow, a second mine in development and a pipeline of quality organic growth assets, we are well positioned to deliver on our vision of becoming the next multiasset mid-tier gold producer in West Africa."
Quelle:http://www.stockwatch.com/News/Item.aspx?bid=Z-C:TGZ-2555010
Meiner Meinung ist Teranga der Top Pick unter allen Goldminen , es besteht nur ein Risiko hinsichtlich der Liegenschaften in Afrika , ansonsten ist die Aktie aufgrund der Kennzahlen ein super Pick... wenn der Goldpreis neue Hochs in Angriff nimmt jenseits der 1400$ dann geht es meiner Meinung ganz schnell hier. Keine Kauf- bzw. Verkaufsempfehlung ! Nur meine Meinung ----------- Carpe diem
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