Karora Resources, Inc. (TSE:KRR) has released an update.
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Karora Resources Inc. announced a record quarterly revenue of $115.5 million for Q1 2024, marking a 19% increase from the previous year, alongside strong cash flow from operations at $42.6 million. Despite a 9% decrease in gold production due to challenging weather and power issues, gold sales rose, and the company successfully reduced costs, aligning with their 2024 guidance. Additionally, Karora is set to merge with Westgold Resources, potentially creating Australia’s largest unhedged gold producer pending shareholder approval.
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