{"id":1158553,"date":"2020-01-07T14:59:43","date_gmt":"2020-01-07T20:59:43","guid":{"rendered":"https:\/\/www.mining.com\/?p=1010628"},"modified":"2020-01-07T14:59:43","modified_gmt":"2020-01-07T20:59:43","slug":"teranga-delivers-record-annual-production-stock-hits-six-year-high","status":"publish","type":"post","link":"https:\/\/juniorminingnews.com\/?p=1158553","title":{"rendered":"Teranga delivers record annual production, stock hits six-year high"},"content":{"rendered":"<p>Teranga Gold (TSX: TGZ) achieved record consolidated gold production for 2019, exceeding the top end of its full-year production guidance, the Toronto-based gold miner <a href=\"https:\/\/s2.q4cdn.com\/949220588\/files\/doc_news\/2020\/1\/2020-January-7-2019-Production-FINAL.pdf\"  rel=\"noreferrer noopener\">reported Tuesday<\/a>. Annual gold production increased by 18% to 288,768 ounces compared with the 245,230 ounces produced in 2018.<\/p>\n<div class='d-flex justify-content-center d-xs-block d-sm-block d-md-none'>\n<div id='div-gpt-ad-1561499308230-0'><script>googletag.cmd.push(function() {googletag.display('div-gpt-ad-1561499308230-0');});<\/script><\/div>\n<\/div>\n<p>This represents the fourth consecutive year in which the company has exceeded its production guidance and reported record results, Teranga COO Paul Chawrun said. <\/p>\n<p>At the Wahgnion mine in Burkina Faso, which began commercial production in November, gold output reached 47,492 ounces, surpassing the high end of its production guidance of 30,000-40,000 ounces. The Sabodala mine in Senegal also topped its anticipated production guidance of 215,000-230,000 ounces with 241,276 ounces of gold produced.<\/p>\n<p>Additionally, the company&#8217;s <a aria-label=\"recently announced acquisition (opens in a new tab)\" href=\"https:\/\/www.mining.com\/barrick-to-sell-stake-in-senegal-project-to-teranga-gold-for-about-430m\/\"  rel=\"noreferrer noopener\">recently announced acquisition<\/a> of the Massawa gold project &#8212; located only 20 km away from Sabodala &#8212; is expected to transform the Sabodala-Massawa complex into a &#8220;top-tier&#8221; gold producer, president and CEO Richard Young added.<\/p>\n<p>Prior to announcing its acquisition of the Massawa project from Barrick Gold, which is expected to close in the first quarter, Teranga had been targeting gold production of 300,000-350,000 ounces for 2020. However, with production of Massawa\u2019s free-milling ore expected to begin at Sabodala\u2019s existing carbon-in-leach plant in the second half of this year, production is expected to increase beyond the previously anticipated range. <\/p>\n<p>Within six months of closing the Massawa purchase, Teranga plans to complete a prefeasibility study highlighting updated production and costs for the integrated Sabodala-Massawa gold complex.<\/p>\n<p>Shares of Teranga Gold rose to a six-year high of C$7.44 on Tuesday. The company&#8217;s market capitalization stands at approximately C$778.9 million.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>This represents the fourth consecutive year in which the company has exceeded its production guidance and reported record results.<\/p>\n","protected":false},"author":88,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"site-sidebar-layout":"default","site-content-layout":"","ast-site-content-layout":"","site-content-style":"default","site-sidebar-style":"default","ast-global-header-display":"","ast-banner-title-visibility":"","ast-main-header-display":"","ast-hfb-above-header-display":"","ast-hfb-below-header-display":"","ast-hfb-mobile-header-display":"","site-post-title":"","ast-breadcrumbs-content":"","ast-featured-img":"","footer-sml-layout":"","theme-transparent-header-meta":"","adv-header-id-meta":"","stick-header-meta":"","header-above-stick-meta":"","header-main-stick-meta":"","header-below-stick-meta":"","astra-migrate-meta-layouts":"default","ast-page-background-enabled":"default","ast-page-background-meta":{"desktop":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-gradient":""},"tablet":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-gradient":""},"mobile":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-gradient":""}},"ast-content-background-meta":{"desktop":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-gradient":""},"tablet":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-gradient":""},"mobile":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-gradient":""}},"footnotes":""},"categories":[949,369,4],"tags":[],"_links":{"self":[{"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=\/wp\/v2\/posts\/1158553"}],"collection":[{"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=\/wp\/v2\/users\/88"}],"replies":[{"embeddable":true,"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=1158553"}],"version-history":[{"count":2,"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=\/wp\/v2\/posts\/1158553\/revisions"}],"predecessor-version":[{"id":1158569,"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=\/wp\/v2\/posts\/1158553\/revisions\/1158569"}],"wp:attachment":[{"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=1158553"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=1158553"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=1158553"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}