Wishbone Gold said it anticipates that the combined effect of developments in Mali and Honduras, compared to market expectations for 2017, will be to reduce revenue but have a neutral impact on the bottom line profit/loss numbers.
The Company also confirmed that its subsidiary Black Sand FZE is now receiving full volume shipments from its new supplier in Mali.
In terms of Honduras, Wishbone said:
"The Company's operations in Honduras have been delayed by continuing poor weather conditions. The worst Caribbean hurricane season on record has had a knock-on effect across Central America with flood damage to roads, crops and buildings. The equipment is on site and secure and was tested and run up prior to the storms descending. The next steps for the Company in Honduras are to secure the erection of new buildings so that the mines can process in all weather conditions."
Richard Poulden, CEO and Chairman of Wishbone stated:
"We are pleased that Black Sand's new contract in Mali is moving along as planned and we look forward to increasing the volumes in the future. Mali produces 50mt of gold each year, which is mostly from artisanal miners, meaning the opportunities remain significant. In Honduras, the extreme weather conditions faced by the region have set back our timing on site but we still hope to be in production there early next year."
At 1:58pm: (LON:WSBN) Wishbone Gold PLC share price was +0.05p at 0.68p