RY 175.42 -0.2162% SHOP 157.15 -0.958% TD 79.04 0.0886% ENB 61.42 0.7711% BN 86.09 -0.3934% TRI 231.36 0.0562% CNQ 47.61 0.8046% CP 105.71 -1.4083% CNR 154.12 -1.2811% BMO 133.23 -0.2396% BNS 77.09 -3.3839% CSU 4762.73 -0.5755% CM 89.48 -0.633% MFC 45.25 -0.2645% ATD 82.67 -0.4336% NGT 58.69 2.2296% TRP 68.72 0.7034% SU 54.51 -1.1067% WCN 268.52 0.1492% L 186.4 1.1998%
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Karora Resources (TSX: KRR) draws strategies to ramp up production in FY24
Mineral resource company, Karora Resources Inc (TSX: KRR) is involved in production, exploration, and evaluation activities in Australia. Some of its prime assets are based in Western Australia, namely HGO toll processing and gold mining operation, the Beta Hunt Mine, and the Spargos Reward Gold Project.
In the first quarter of the year 2023, the company’ production surpassed its target levels and increased to 39,827 ounces, around 45% higher than Q1 2022. This marked a 13% improvement in average grade and an increase of 27% in tonnes processed. Notably, the company ended Q1 2023 with production on track to achieve its full-year 2023 guidance of 145,000 – 160,000 ounces. Also, KRR is anticipating to produce gold in a range of 170,000 - 195,000 ounces in 2024.
In Q1 2023, the company posted higher revenue of CAD 96.8 million with a jump of 48.5%, as compared to CAD 65.2 million in Q1 2022. It was mainly due to the higher ounces of gold sold in the reported period versus the previous corresponding period.
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