Teranga 3Q produced over 104K ounces
Revenue grew by 169% in 3Q YoY Teranga Gold reported financial, operating and development results for the three and nine months ended September 30, 2020. 3Q 2020 report says, the present figures are compared with the figures of previous year same time and accordingly, 1: 69% increase in gold production to a record 104,773 ounces, 2: 169% growth in revenue to $192.6 million, 3: 348% increase in gross profit to $77.0 million YoY (Year over Year). Rise in consolidated net profit attributable to shareholders to $9.2 million, or $0.05 per share, compared to net loss attributable to shareholders of $9.7 million or $0.09 per share. Increase in adjusted net profit attributable to share holders1 to $38.8 million, or $0.23 per share, compared to $2.3 million or $0.02 per share. “The third quarter was record-breaking for Teranga as we started mining high-grade ore at Massawa, delivered solid results at Wahgnion and realized strong gross profit, earnings and cash flow,” said Richard Youn