Nordgold maintains FY guidance despite Q3 production, earnings drop

Although LSE-listed Nordgold’s third-quarter gold output decreased 26% year-on-year to 200 700 oz, owing to an unusually severe wet season in West Africa, plant maintenance work at several mines and the effect of delays in refining doré of 15 000 oz at some of its operations, the miner still expected to reach the upper half of its full-year production guidance of 925 000 oz to 985 000 oz. In its results statement for the three months ended September 30, the company outlined that it would maintain its low-cost performance, with full-year all-in-sustaining costs expected to be in the range of $750/oz to $800/oz.