West African gold producer Avesoro Resources released fourth quarter and full year results. Across the three mines now owned by the Company. 54,407 ounces of gold production for the fourth quarter and 192,072 ounces of gold production for the full year are realized.
The Company stated that from New Liberty Mine, 25,563 ounces of gold was produced in the fourth quarter of 2017. In comparison to previous quarter 29% increase in production was realized. The company stated that fourth quarter production is in line with guidance provided at the time of the Q3 production update. The company highlighted full year results and fourth quarter results. While fourth quarter results are toward the upper end of the company’s guidance range, it also indicates 20% increase on 2016 production levels.
Youga and Balogo gold mines, which were acquired by the Company on 18 December 2017, produced