Acacia Mining exceeds FY guidance to produce 718 615 oz in 2014

London-listed Acacia Mining, formerly known as African Barrick Gold, has overshot its 2014 production guidance of between 650 000 oz and 690 000 oz to deliver 718 615 oz of gold in the year ended December 31 – a 10% increase on the prior year’s output. Gold sales for the year were slightly below production, at 703 680 oz, while the average realised price reflected a decrease in the market price, dropping 9% to $1 258/oz for the 12 months.