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Avesoro's first-quarter Ebitda margin improves to 16%

By: Creamer Media Reporter      15th May 2019 West African gold producer Avesoro Resources achieved a 102% quarter-on-quarter increase in earnings before interest, taxes, depreciation and amortisation (Ebitda) to $9.5-million for the first quarter of this year. Its Ebitda margin also improved to 16%, compared with the 8% margin achieved in... 

Acacia concludes termination of earn-in agreement over Burkina Faso project

By: Creamer Media Reporter      15th May 2019 London-listed Acacia Mining has signed the definitive documentation required to terminate its earlier earn-in agreement with TSX-V- and FSE-listed Sarama Resources over the South Houndé project, in Burkina Faso. Acacia announced in November last year that it would divest of the project, following... 

Iamgold to review guidance in second half

By: Mariaan Webb     7th May 2019 Canadian gold miner Iamgold has maintained its 2019 production and costs targets, but said on Monday that it would review its guidance in the second half of the year, following a “challenging” first quarter. Attributable gold production, inclusive of joint venture (JV) operations, fell by 23%... 

Trevali reports solid first quarter results 

By: Simone Liedtke     6th May 2019 TSX-listed Trevali Mining Corporation started the new year off with strong results, which positions the company well to meet its operating targets and take advantage of the currently strong zinc price, newly-appointed president and CEO Ricus Grimbeek said on Monday. While zinc concentrate... 

Iamgold CEO expects more buyout deals in gold industry

By: Reuters     2nd May 2019 The gold industry is likely to see an increase in buyout deals in the near future as miners fight to attract a shrinking pool of investment capital, the chief executive of Canada's Iamgold said on Wednesday. The industry's buyout frenzy was sparked earlier this year when Barrick Gold and... 

Roxgold reports solid first-quarter output

By: Tasneem Bulbulia     30th April 2019 Roxgold recorded a solid operating performance at its Yaramoko mine, in Burkina Faso, for the first quarter of this year, with gold production of 33 652 oz. With production at the mine weighted towards the second half of the year, the company remains on track to achieve its full-year production... 

Gold worth billions smuggled out of Africa

By: Reuters     24th April 2019 Billions of dollars' worth of gold is being smuggled out of Africa every year through the United Arab Emirates in the Middle East – a gateway to markets in Europe, the United States and beyond – a Reuters analysis has found. Customs data shows that the UAE imported $15.1-billion worth of gold... 

Capital Drilling poised to meet growing demand for drilling services

By: Tasneem Bulbulia     18th April 2019 Africa-focused Capital Drilling continues to be well positioned for an anticipated uplift in demand, especially in West Africa. “At this early stage of the year, we have already seen some encouraging signs in the market, with robust metals prices, particularly gold, and improving capital markets. 

Sanbrado optimised study predicts 300 000 oz in first year – West African

By: Nadine James     16th April 2019 Sydney-listed West African Resources has increased its forecast yearly gold production from the Sanbrado mine, in Burkina Faso, following an optimised feasibility study. Announcing the results of the study on Tuesday, the company said that Sanbrado would produce 301 000 oz in its first year of... 

Exploration trends likely to improve significantly in West Africa

By: Mamaili Mamaila     12th April 2019 While mining progress in West Africa will vary from country to country, with one or two discrete discoveries, developments often set significant change into motion, says engineering consulting company SRK Consulting South Africa partner and principal consultant Andrew van Zyl. Recent studies have... 

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