Home Commodities Karora Resources Gold Output Edges Over Guidance in 2023 — Commodity Comment

Karora Resources Gold Output Edges Over Guidance in 2023 — Commodity Comment

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Published: Jan. 15, 2024 at 8:01 a.m. ET

By Adriano Marchese

Karora Resources’ full-year gold output was well above 2022’s production, and just above its guidance range for 2023 thanks to a strong performance from its two mines in Western Australia in the fourth quarter.

On production:

Karora…

By Adriano Marchese

Karora Resources’ full-year gold output was well above 2022’s production, and just above its guidance range for 2023 thanks to a strong performance from its two mines in Western Australia in the fourth quarter.

On production:

Karora produced 160,492 ounces of gold in 2023 from its Beta Hunt and Higginsville mines, up more than 26,000 ounces from the prior year.

The results were just above the high end of full-year 2023 guidance range of between 145,000 ounces and 160,000 ounces.

“Gold production in the fourth quarter was a very strong 40,295 ounces, the second highest quarterly result on record.”

On sales:

Gold sales also totaled 157,034 ounces during 2023.

“Due to the timing of sales, gold sold during the fourth quarter was 2,856 ounces lower than produced, contributing to a slight decrease in our quarter-over-quarter cash balance which will be recovered in sales during the first quarter of 2024.”

Write to Adriano Marchese at adriano.marchese@wsj.com

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