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OZ Minerals again hikes gold production guidance for FY'19; Q3 output slips YOY

OZ Minerals Ltd. again raised its gold production guidance for full-year 2019 on the back of higher output expected from its Antas gold operation in Brazil.

The company now expects to produce 123,400 ounces to 136,800 ounces of gold in the full year, compared to the previous forecast of 122,200 ounces to 135,600 ounces.

Antas' all-in sustaining cost guidance for 2019 was lowered to US$3.10 per pound to US$3.40/lb, from US$3.30/lb to US$3.60/lb previously.

The overall all-in sustaining cost for the company is now expected at US$1.20/lb to US$1.30/lb for the year, compared to the previous guidance of US$1.25/lb to US$1.35/lb.

Guidance for copper production in the year was maintained at 103,000 tonnes to 115,500 tonnes.

In the third quarter, OZ Minerals produced 30,346 ounces of gold and 24,663 tonnes of copper, down from 36,601 ounces of gold and 31,919 tonnes of copper produced in the prior-year third quarter.