- Firefinch (FFX) sees “strong” production of 10,874 ounces of gold for the March 2022 quarter from its Morila gold mine in Mali
- The company says it maintains its guidance for the calendar year at 100,000 ounces
- Production is benefitting from the commencement of mining at the N’Tiola satellite deposit, which started six weeks ahead of schedule
- Firefinch expects to increase the annualised gold production rate at Morila to 140,000 ounces in the second half of 2022, underpinned by the Morila Super Pit
- FFX shares last traded at $1.07 on April 11
Firefinch (FFX) has reported “strong” production of 10,874 ounces of gold for the March 2022 quarter from its Morila gold mine in Mali.
The company said March quarter production was consistent with its guidance of 10,000 to 11,500 ounces and its guidance for the current quarter stood at between 17,000 and 20,000 ounces.
Firefinch maintained its production aim for CY2022 at 100,000 ounces.
The company said Morila production was benefitting from the commencement of mining at N’Tiola satellite deposit, which started six weeks ahead of schedule at the end of March.
N’Tiola was the fourth mining area opened by Firefinch after Morila Pit 5, Viper and the Morila Super Pit.
Firefinch said it was expecting a significant increase in the annualised gold production rate at the operation to 140,000 ounces in the second half of 2022, underpinned by the Morila Super Pit.
“After a year in the role as Managing Director, I am very pleased to report we have delivered on our plan of transitioning from tailings reprocessing to hard rock mining,” Managing Director Dr Michael Anderson said.
“We are confident to maintain our 2022 production guidance for Morila at 100,000
ounces of gold and it is exciting to look forward to annualised production rates in H2 2022 in excess of 140,000 ounces.”
FFX shares last traded at $1.07 on April 11.