G-Resources Group Limited Reports Operating Results for the Second Quarter of 2014; Revises Production Guidance and Capital Expenditure Guidance for the Year 2014
The company considers that it will achieve the upper end of the prior guidance for 2014, i.e. 250,000 ounces of gold. Silver guidance at 2 million ounces remains unchanged. Exploration expenditures are expected to be reduced slightly from $17 million to approximately $15 million, whilst capital expenditure is estimated to be approximately $60 million - this includes some minor land acquisition costs and lifts for the tailings storage facility. The installation of a secondary crushing facility to bring plant throughput capacity to around 5 mtpa, is now not anticipated to occur until the first half of 2015.