Teranga Gold Corporation Reports Consolidated Gold Production for 2019; Provides Gold Production Guidance for 2020
Prior to announcing its acquisition of the Massawa gold project from Barrick Gold, which is expected to close in the first quarter of 2020, the Company had been targeting 2020 gold production of between 300,000 and 350,000 ounces based on the latest technical reports filed for each of its Sabodala and Wahgnion gold mines. However, with production of Massawa's free-milling ore expected to commence at Sabodala's existing carbon-in-leach plant in the second half of this year, 2020 production is expected to increase beyond the previously anticipated range. Within six months of closing the Massawa acquisition, Teranga plans to complete a pre-feasibility study highlighting updated production and costs for the integrated Sabodala-Massawa gold complex.