2014 Outlook at Mana
- Production of between 200,000 and 225,000 ounces of gold, a 34% increase over the 2013 gold production
- Total cash cost1 of between $695 and $745 per ounce, a 9% decrease relative to an estimated $790 per ounce in 2013
- All-in sustaining cost3 of between $840 and $890 per ounce
- Sustaining capital expenditures of $30.6 million, including stripping costs
- Growth capital expenditures of $17.9 million, which includes development costs for Siou and Fofina
- Initial exploration budget of $18 million
- Processing of ore at Siou to commence in the first quarter of 2014
- Milling of Fofina ore anticipated in the third quarter of 2014
- Continued focus on optimizing and improving efficiencies throughout the Corporation
1 Total cash cost is a non-IFRS financial performance measure with no standard definition under IFRS and represents the mining operation expenses and government royalties per ounce sold.
2 All-in sustaining cost is a non-IFRS financial performance measure with no standard definition under IFRS and represents the total cash cost, plus sustainable capital expenditures and pre-stripping costs per ounce.
The 2014 initial exploration budget has been established at $18 million, most of which has been allocated to activities close to Siou, the Kokoi trend and the recently acquired Pompoi North permit. The drilling program comprises 290,000 meters of auger, 103,000 meters of reverse-circulation, and 33,000 meters of diamond drilling. Reverse-circulation and diamond drilling are expected to intensify in the second half of 2014. The budget includes a $4 million provision for definition drilling between 180 and 225 meters vertically at the Siou open-pit deposit with the objective of replacing and increasing the Siou reserve base.
Back to top