Acacia Miningplc's net earnings jumped to US$46.3 million in the second quarter,from US$5.6 million a year ago. EPS improved to 11.3 cents, from 1.4 cents ayear earlier.
Quarterly revenue for the company increased to US$284.0million, from US$231.9 million in the prior-year quarter.
Acacia said July 22 that it anticipates full-year goldproduction to hit the top end of its guidance of 750,000 ounces to 780,000ounces, after 19% higher year-over-year output totaling 221,815 ounces in thesecond quarter.
Production from the company's North Mara mine in Tanzania increased 50% yearover year to 100,016 ounces in the second quarter.
Sales in the second quarter jumped to 216,782 ounces, from184,055 ounces a year ago.
All-in sustaining costs totaled US$926 per ounce, dropping19% compared to the year-ago quarter on the back of a higher production base,lower cash costs, lower corporate administration costs and lower sustaining CapEx.
For the full year, the company expects to remain at thelower end of the all-in sustaining cost guidance of US$950 per ounce to US$980per ounce.
Cash costs in the quarter were down 23% year over year toUS$595 per ounce sold.
Capital expenditure for the quarter amounted to US$49.1million, compared to US$46.5 million a year ago.
Acacia realized a net loss in the first half of the year ofUS$6.1 million, compared to a year-ago profit of US$14.8 million, as highergold sales volumes and lower cost of sales, corporate administration costs,other charges and finance costs, were offset by higher shared based paymentcosts and a higher tax expense.
Revenue for the six months increased to US$504.9 million,from US$446.8 million in the prior-year half, due to a 13% year-over-yearincrease in gold sales volumes to 400,963 ounces and a 1% increase in theaverage realized gold price of US$1,209 per ounce sold.
Gold production in the first half totaled 412,025 ounces, a12% year-over-year gain, with gold sales of 400,963 ounces.
The half's all-in sustaining costs totaled US$941 per ouncesold, while cash costs stood at US$640 per ounce sold, a 17% and 18% reductionyear over year, respectively.