148477 oz driven by strong performance!

 Acacia Mining reports fourth quarter production results & says, “We are pleased to report fourth quarter production of 148,477 ounces driven by strong operational performance at Buzwagi, whilst we successfully transitioned Bulyanhulu into a reduced operational state” Peter Geleta, Interim CEO of Acacia.

 

“Disciplined cost management, combined with the operational performance, led to Q4 2017 all-in sustaining costs of US$779 per ounce, which helped to significantly reduce the cash outflow in the quarter despite the cost of transitioning Bulyanhulu to reduced operations.

 

Q4 2017 gold production was slightly ahead of expectations at 148,477 ounces, although 30% lower than Q4 2016 which was a direct result of Bulyanhulu transitioning to reduced operations. Gold sales of 147,636 ounces were in line with production with all gold produced being in doré form.

 

2017 gold production of 767,883 ounces, 7% lower than 2016 as a result of lower production mainly from Bulyanhulu, but ahead of revised full year guidance of 750,000 ounces. Full year sales of 592,861 ounces, 27% lower than 2016, driven by the impact of the concentrate export ban.

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