Home Commodities Karora 3Q Gold Production Beats Previous Record by 25% — Commodity Comment

Karora 3Q Gold Production Beats Previous Record by 25% — Commodity Comment


By Jennifer Tershak

Karora Resources Inc. had consolidated gold production of 38,437 troy ounces for the third quarter from its Beta Hunt and Higginsville mines in Western Australia, while gold sales for the quarter were 35,513 ounces.

On production:

“In our first two months of owning two producing mills, we were able to optimize our blend of material from the Beta Hunt Mine, the Aquarius and Two Boys underground mines at Higginsville, our Spargos open pit mine and some of our lower-grade surface stockpiles to achieve a new quarterly gold production record and beat our previous record set in Q2 2022 by an impressive 25%.”

On discoveries:

Karora Resources said it had an additional coarse gold discovery in August, which contributed 2,436 ounces to the record quarter.

“While we certainly enjoy these periodic coarse gold injections as we encounter the sedimentary band typically hosting coarse gold at Beta Hunt, it is important to note that we achieved a record quarter even without the additional coarse gold ounces–a testament to the track record of operational delivery we have established across our operations at Karora.”

On guidance:

Karora Resources plans to increase production to 185,000 to 200,000 gold ounces a year within the next couple years.

Write to Jennifer Tershak at jennifer.tershak@wsj.com

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