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Norton ups production guidance

25th July 2013

By: Esmarie Iannucci

Creamer Media Senior Deputy Editor: Australasia

  

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PERTH (miningweekly.com) – ASX-listed Norton Gold Fields on Thursday increased its production forecast for 2013 by some 9%, while lowering its cash cost expectations.

The miner said that production for the full year was expected to be between 163 000 oz and 167 000 oz of gold, compared with the previous estimate of between 154 000 oz and 162 000 oz.

C1 cash costs, meanwhile, were forecast to decline to between A$970/oz and A$1 010/oz, from the previous estimate of beween A$990/oz and A$1 090/oz.

“Following the release of better-than-forecast production and cost results [for the June quarter], Norton is pleased to provide an updated production guidance for the 2013 calendar year,” said MD and CEO Dianmin Chen.

He noted that the increased forecast reflected Norton’s continued confidence in achieving challenging production targets, and its disciplined approach to driving costs down.

“We are committed to improving shareholder returns and our vision is to be a leading long-term gold producer,” Chen added.

During the six months to June, Norton produced a record 85 517 oz of gold, beating its guidance of between 76 000 oz and 80 000 oz.

Edited by Creamer Media Reporter

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