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BRIEF-Teranga Gold says 2015 output expected at lower half of guidance

Published 2015-09-21, 06:38 a/m
© Reuters.  BRIEF-Teranga Gold says 2015 output expected at lower half of guidance
TGZ
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Sept 21 (Reuters) - Teranga Gold Corp TGZ.TO :
* Says reaffirms its 2015 production outlook of between 200,000 and 230,000
ounces
* Q3,fy production will be impacted by heavy rainfall that has caused material
handling issues with oxide material being mined at masato
* Higher grade masato material stockpiled from Q3, are expected to result in a
significant increase in fourth quarter production"
* Cash balance is expected to decline in the third quarter due to the delay in
processing higher grade masato oxide material
* 2015 production is expected to be in lower half of guidance range due to
changes made duringq3 to gora mine plan
* Higher grade oxide material from masato,scheduled to be processed during
quarter,been stockpiled,processed after rainy season ends in October
* Reaffirms 2015 mine production costs and mining, milling and g&a costs
expected to come in at lower end of cost guidance

* Source text for Eikon ID:nMKWkY72Za

* Further company coverage TGZ.TO

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