The Mako mine
Gold miner Toro Gold exceeded its 2018 production forecast by 17%, with 156 926 oz produced from its 90%-owned Mako mine, in Senegal.
The company had forecast production of 134 294 oz following the first gold pour in January 2018.
Production was achieved at an all-in sustaining cost (AISC) below $700/oz, while the company budgeted for an AISC of $789/oz.
Toro processed 1.8-million tonnes of ore at 2.94 g/t gold, which is above the 1.7-million tonnes grading 2.77 g/t gold forecast.
The company reported metallurgical recoveries of 95.5%, compared with the 92% forecast.
During the second half of 2018, Toro focused on investigating the potential for mine life extension beneath the current pit. Analysis of a 15 000 m drilling campaign that was completed is under way.
The company expects to publish an updated mineral resource estimate and life-of-mine operating plan during the first quarter of this year.