JOHANNESBURG (miningweekly.com) – Dual-listed Avesoro Resources expects to produce between 220 000 oz and 240 000 oz of gold this year, a 25% year-on-year increase, as significant additional ounces delineated by drilling along strike from current mining operations at the Youga gold mine, in Burkina Faso, would be added.
The West African gold producer's CEO Serhan Umurhan further highlighted that the company, which is listed on the Aim and the TSX, started the new year well-positioned to increase its production levels, while reducing operating costs at its New Liberty, Youga and Balogo mines.
"This year, we look to build upon the operational turnaround achieved at New Liberty, in Liberia," Umurhan pointed out, adding that the company expected its operating cash costs to range between $620/oz and $660/oz.
Avesoro would continue to focus on investing in exploration in the year ahead, following the success of last year's focused exploration activities, with a budget of $25-million set aside for these activities. This would include 24 diamond drill rigs operating across the company's licence portfolio by the third quarter.
The company expects to complete 171 000 m of diamond drilling this year.