StockMarketWire.com - Cetamin reported a rise in quarterly gold production and sales that keeps the mining company on track to meet its annual output guidance.

Gold production in Q1 was 104,047 ounces, up 53% from Q4, but down 17% from the prior-year period.

Revenue rose 53% to US$190 million on gold sales of 106,573 oz, up 34% from Q4, but down 24% from the prior-year period.

The rise in quarterly production was driven by 'improved open pit and underground mined grade, resulting in a 34% increase in feed grade; and a 17% reduction compared to the first quarter of 2020, reflecting the conclusions of the Life of Asset Phase 1 and three-year outlook presented in December 2020,' the company said.

The company maintained its 2021 gold production guidance in range of 400,000 to 430,000 oz, split equally across H1 and H2.






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