(Kitco News) – Concord Gold Mining at present reported “…an distinctive efficiency” for the interval ended 31 December 2020 in comparability to the six months ended 31 December 2019.
The corporate stated it noticed an 8% improve in gold manufacturing, 69% improve in working free money move margin, 336% improve in web revenue and 58% discount in web debt.
Concord Gold declared an interim dividend of 110 SA cents (~US 8 cents).
The corporate famous that increased gold manufacturing was because of the integration of the Mponeng and Mine Waste Options belongings, the efficient measures adopted in stopping and mitigating the affect of COVID-19 and disciplined mining.
“The distinctive efficiency achieved throughout H1FY21 substantiates the expansion technique that we got down to pursue originally of 2016. Via astute acquisitions, we now have efficiently added high quality ounces and de-risked our asset portfolio. Concord is now not a marginal gold producer, however an rising market mining specialist”, stated CEO Peter Steenkamp.
Concord Gold has operations and belongings in South Africa and Papua New Guinea (PNG). The corporate’s belongings embrace one open pit mine and several other exploration tenements in PNG, in addition to 10 underground mines and 1 open pit operation and several other floor sources in South Africa. As well as, Concord owns 50% of the numerous Wafi-Golpu copper-gold undertaking – a tier 1 asset in a three way partnership in PNG.
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