Highland Gold Mining reaffirms production guidance as H1 output rises 10%
Source - SMW
Highland Gold Mining said half-yearly production rose 10% after a slight increase in second-quarter output with the miner maintaining its production guidance for the full year.
Highland Gold produced a total of 70,293 oz of gold and gold equivalent in second quarter of the year, a 'slight' increase from 69,610 oz in Q2 2018, taking the first-half production to 142,254 oz of gold and gold equivalent, an increase of 10% from 128,921 from the first half of last year.
Its Belaya Gora and Novoshirokinskoye operations saw year-on-year declines in output during both the second quarter and the first half of the year, keeping a lid on growth somewhat, although grades at Novo improved 'substantially' in Q2 compared to the previous quarter, the company said.
The average realised gold price was US$ 1,309 per ounce in the second quarter and US$ 1,308 in the first half of the year.
For the full year, the company affirmed its forecast for total 2019 production of 290,000-300,000 oz of gold and gold equivalent.