Red Rock Resources (LON:RRR) is still looking at the options for its Colombian gold assets, including a possible sale of the El Limon mine.
The company, which also has gold projects in Kenya and the Ivory Coast, said the focus is on keeping costs low, while maximising the output at El Limon.
Four Points, which is 50.002% owned by Red Rock, reported a near-doubling of gold sales to 718 ounces in the first quarter.
However, this was a reduction from the preceding quarter when the company reported sales of 909 ounces.
Red Rock’s total gold sales in the first quarter amounted to 2,607 ounces at an average price per ounce of US$1,259, which means it generated US$3.28mln in the three-month period.
Chairman Andrew Bell said: “We continue to focus our efforts on maximizing output levels and reducing our cash costs at the mine, while exploring both further mine developments and potential disposal options as appropriate.
“With multiple initiatives underway involving El Limon we look forward to the remainder of 2014 with optimism as we seek to unlock value for Red Rock shareholders.”