On 5 October 2018, the company announced its unaudited third quarter 2018 production results. Following the release of the results, the share price of the company increased by 5.579% percent as on 5 October 2018.
In the third quarter, 26,160 ounces of gold was produced from Copler Gold Mine. The company sold 29,270 ounces of Gold in the third quarter. The company is trying to meet the lower end of the full year production guidance (1,60,000 to 2,30,000 ounces). The financial and the operating results are planned to be released on October 31, 2018.
To become a sustainable multi-mine producer, the company continues to take opportunities for expansion activities. The Company’s Sulfide Project is going to be completed soon and a staged start-up is underway. It is expected that the Sulfide Project will provide strong financial returns and long-term growth which will add 20 years of production at Copler Gold Mine. The company will process oxide ore from three primary sources i.e., Cakmaktepe, Copler in-pit, and blended material which are comprised of the limestone-rich in-pit oxide material, high carbonate ore, and stockpiled low sulfide. With the ongoing in-pit exploration, evaluation of options to further increase heap leach capacity, and through Copler District exploration, the company is trying to increase the oxide production. To increase the processing capacity of the oxide plant, the company has accelerated the expansion of the existing heap leach pad and it is now expected to be completed in 2018.
To deliver more production and continuous growth of oxide resources, the company is progressing with focused and systematic exploration efforts in the Copler District. In the last six months, the share price of the company increased by 11.48% as on 4 October 2018. AQG’s shares traded at $2.460 with a market capitalization of circa $918.26 million as on 5 October 2018 (AEST: 4:00 PM).
The Income available from dividends remains attractive for many investors.
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