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Avesoro forecasts up to 100,000-gold-ounce output in FY'17

Avesoro Resources Inc. forecast gold production of between 90,000 and 100,000 ounces this year, according to a March 29 release.

Cash costs in the year are estimated to range from US$750 per ounce to US$800 per ounce, while all-in sustaining costs are expected between US$925 per ounce and US$975 per ounce.

The company's gold production jumped 73% year over year in 2016 to 63,556 ounces, at a cash cost of US$1,775 per ounce, and all-in sustaining costs of US$1,930 per ounce.

Avesoro plans to start a near-mine exploration program at its New Liberty gold mine in Liberia in the second half.

The program will have a budget of about US$5 million and will look to add minable ounces from nearby high-grade satellite deposits.