Robex Resources' Guinea Mine Produces 39,367 Ounces of Gold in Q1; Shares Rise 8%

MT Newswires Live08:51

Robex Resources (ASX:RXR) produced 39,367 ounces of gold and poured 38,178 ounces of gold at its Kiniero gold mine in Guinea in the first quarter, according to a Tuesday filing with the Australian bourse.

The mine milled 1.6 million tonnes of ore at an average of 0.85 grams per tonne grade of gold in the first quarter. The company said 32,306 ounces of gold were sold, and provisionally sold, at an average realized price of $4,804 per ounce.

Cash and bullion holdings increased to an estimated $255 million as of the end of March, per the filing.

Meanwhile, the company's Nampala gold mine in Mali milled 500,000 tonnes of ore at an average of 0.7 grams per tonne grade of gold to produce 10,000 ounces of gold in the first quarter.

The company's shares gained 8% in recent trade.

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