Mining contractor gold production at the Manica concession in Mozambique rose in the three months through June to about 566 ounces, up from 467 ounces in the first quarter, this is according to mining group, Xtract Resources.
Combined attributable revenue from gold sales and other income amounted to $262k.
‘The operating results over the year have been fairly consistent, reflecting difficult operating conditions,’ executive chairman Colin Bird said.
‘During the current quarter, we have seen a reduction in overall costs and once again operating income over expenditure.’
‘We anticipate a modest increase in production during the third quarter, which should also result in an improved financial performance with an increasing gold price.’
‘Negotiations to introduce further mining and processing for both alluvial and hard rock production are progressing and we look forward to updating our shareholders in due course.’