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Capital Drilling Plc

Tasiast delivers record production

Kinross Gold Corporation has announced its results for the first-quarter ended March 31, 2020.

2020 Q1 highlights:

  • Production1 of 567,327 attributable gold equivalent ounces (Au eq. oz.), and sales of 552,742 Au eq. oz.
  • Reported net earnings2 almost doubled to $122.7 million, or $0.10 per share, and adjusted net earnings3 increased by 53% to $127.4 million, or $0.10 per share, compared with Q1 2019.
  • Operating cash flow of $299.6 million and adjusted operating cash flow3 of $418.6 million, a 19% and 81% increase respectively compared with Q1 2019.
  • Three largest producing mines – Paracatu, Kupol and Tasiast – delivered 62% of total production and achieved an average cost of sales of $642 per Au eq. oz., with average costs lower than the previous quarter.
  • Tasiast, for the second consecutive quarter, achieved record quarterly production and a record average throughput rate of 16,100 tonnes per day (t/d), as the mine continues to benefit from the Phase One expansion.

Capital Drilling Ltd (LON:CAPD) provide complete exploration and production drilling solutions to customers within the global minerals industry, with a focus on the African markets& gold mining. The company currently provide grade control drilling, rig maintenance and assay laboratory services at the Tasiast site.

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Disclaimer: Statements in this article should not be considered investment advice, which is best sought directly from a qualified professional.