TSX-listed gold miner Teranga Gold Corporation achieved record gold production for 2018, exceeding the high end of its increased production guidance range.
The company closed the year producing 245 230 oz – above its forecast guidance range which was between 235 000 and 240 000 oz for the 2018 year.
“With mill throughput once again exceeding 4 Mt for the year and positive reconciliation to ore reserve estimates at our Sabodala gold mine, year-over-year production grew by 5% in 2018,” says Richard Young, Teranga president and CEO.
“As a result, we achieved record gold production for the third consecutive year and exceeded the top end of our 2018 production guidance.”
“In addition, construction at Wahgnion, our second gold mine, continues to advance on schedule. Wahgnion is expected to commence operation and contribute to our consolidated annual production by the end of this year.”
Teranga expects to release its results for the fourth quarter and year ended 31 December 2018 before markets open on Friday, 22 February 2019.