(Ecofin Agency) - After a record first quarter, Roxgold has revised upwards its 2018 full year production target at Yaramoko gold mine in Burkina Faso.

The mine is now expected to deliver between 120,000 and 130,000 oz, an increase from the initial forecast of 110,000 to 120,000 oz. 

“As a result of the continued outperformance at Yaramoko that delivered record cash flow and gold production in the first quarter, we have increased our full year production guidance.  Our balance sheet remains strong and we continue to build net cash and pay down debt,” commented CEO John Dorward (photo).

Let’s recall that in Q1, Roxgold produced 40, 452 ounces of gold and sold 40, 050 ounces (up 24%) for $53 million revenues. In its balance sheet issued May 14, the company reported that it generated $30.9 million in operating cash flow during the period.

Louis-Nino Kansoun