The Beta Hunt and Higginsville mines, in Western Australia, have delivered a production record of 160 492 oz in 2023, capping the seventh consecutive year of production growth for Toronto-listed Karora Resources.
The production performance exceeded 2022’s output by more than 26 000 oz and beat the high end of Karora’s full year guidance range of 145 000 oz to 160 000 oz.
“Gold production in the fourth quarter was a very strong 40 295 oz, the second highest quarterly result on record,” reports chairperson and CEO Paul Andre Huet.
Due to the timing of sales, gold sold during the fourth quarter was 2 856 oz lower than produced, contributing to a decrease in the firm’s quarter-on-quarter cash balance to $82.5-million.
“Overall, I am very pleased with our performance in 2023 and I look forward to continued growth in 2024 and beyond as we execute on the final year of our three-year growth plan,” says Huet.
Karora will post its full-year financial results in mid-March.