RY 144.17 0.4529% TD 77.39 0.0517% SHOP 78.87 -1.3878% CNR 171.64 0.5625% ENB 50.09 -0.4769% CP 110.62 0.6277% BMO 128.85 -0.548% TRI 233.58 1.1563% CNQ 103.29 -0.174% BN 60.87 -0.2295% ATD 75.6 -1.447% CSU 3697.0 1.1582% BNS 65.76 -0.3485% CM 66.6 -0.5525% SU 54.21 1.1569% TRP 53.15 0.3398% NGT 58.54 -0.3405% WCN 226.5 0.4123% MFC 35.905 0.9986% BCE 46.75 -0.5954%
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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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