Victoria Gold reports net income of $17.1 million in Q2, reduces production expectations for 2022 kitconews gold silver finance investing metals mining economics
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The company said that for the three months ended June 30, 2022, it recognized revenue of $69.4 million compared to $63.5 million for the previous year's comparable period, adding that the increase in revenue is attributed to a higher average realized price, partially offset by a lower number of gold ounces sold.
According to a press-release, production at the Eagle Gold Mine for 2022 is expected to be close to the lower end of original guidance, of between 165,000 and 190,000 ounces. The company noted that all-in sustaining costs for 2022 are expected to be close to the top end of original guidance, of between US$1,225 and US$1,425 per oz of gold sold.
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