Junior gold producer, Avion Gold (TSX-V: AVR) reported record monthly production for the month of December of 8,100 ounces of gold (67,500 tonnes at an average grade of 3.87 g/t with 96.6% recovery) from its Tabakoto/S’gala operations in Mali, West Africa. The record monthly production helped bump the company’s quarterly production to a record level as well, with 21,300 ounces of gold produced in the fourth quarter. Total production for 2009 was 51,300 ounces and is forecast to reach 100,000 ounces in 2010.
Cash costs in the fourth quarter were a very healthy US$495/ounce while full year cash costs are expected to be around $530/ounce.
Avion Gold officially became a commercial producer on May 1, 2009.
"Avion's focus on this mine has resulted in a highly successful new start up, and has set the stage for Avion's continued growth in 2010 and beyond,” Avion's President and CEO, John Begeman, stated.
Avion Gold fourth quarter production hits 21,300 ounces, cash costs come in at $495/ounce
Last updated: 04:52 12 Jan 2010 AEDT, First published: 05:52 12 Jan 2010 AEDT