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CORPORATE
Teranga Gold Corporation ("Teranga or the Company") is a Canadian-based gold company listed on the Toronto Stock Exchange (TSX: TGZ) and Australian Securities Exchange (ASX: TGZ). Teranga is principally engaged in the production and sale of gold, as well as related activities such as exploration and mine development.
Finance
At December 31, 2012:
-- Cash and cash equivalents - $39.7 million-- Trade Receivables (bullion) - $5.3 million-- Project Finance Facility (balance outstanding) - $60.0 million-- Mining Fleet Lease Facility (balance outstanding) - $10.5 million-- Hedge Facility = as of January 29, 2013 - 38,105 oz remain to be delivered at an average price of $791/oz (59,789 oz at December 31, 2012)
Production Statistics
---------------------------------------------------------------------------- Dec-12 Sep-12 Jun-12 Mar-12 Dec-11 Quarter Quarter Quarter Quarter Quarter----------------------------------------------------------------------------Ore mined ('000t) 2,038 655 2,105 1,117 1,715----------------------------------------------------------------------------Waste mined ('000t) 5,274 6,242 5,130 6,316 4,736----------------------------------------------------------------------------Total mined ('000t) 7,312 6,897 7,235 7,433 6,451----------------------------------------------------------------------------Grade mined (g/t) 2.04 1.92 2.25 1.38 1.50----------------------------------------------------------------------------Ounces mined (oz) 133,549 40,516 152,603 49,517 82,710----------------------------------------------------------------------------Strip ratio waste/ore 2.6 9.5 2.4 5.7 2.8----------------------------------------------------------------------------Ore processed ('000t) 725 650 491 573 604----------------------------------------------------------------------------Head grade (g/t) 3.40 3.11 3.22 2.52 2.10----------------------------------------------------------------------------Gold recovery (%) 90.7 84.6 89.6 90.0 89.8----------------------------------------------------------------------------Gold produced(1) (oz) 71,804 55,107 45,495 41,904 36,695----------------------------------------------------------------------------Gold sold (oz) 71,604 62,439 38,503 35,268 34,665----------------------------------------------------------------------------Average price received $/oz 1,296 1,290 1,608 1,712 1,482----------------------------------------------------------------------------Total cash costs per ounce sold (including royalties)(2) $/oz 623 594 645 673 809----------------------------------------------------------------------------Notes:
(1) Gold produced includes change in gold in circuit inventory plus gold recovered during the period.(2) Total cash costs per ounce sold for 2011 were restated to comply with the Company's new accounting policy for measuring and recording ore stockpile costs, as well as reporting total cash costs after inventory movement, in line with the Company's accounting policies and industry standards.
