Sierra Rutile production well ahead in third quarter

21st Oct 2016 08:40

(ShareCast News) - Sierra Rutile posted an operational update for the third quarter of 2016 on Friday, with strong quarterly production at 43,081 tonnes of rutile.The AIM-traded firm said that was a 24% increase in rutile production from Q2 2016, and a 27% increase from Q3 2015.Gangama Dry Mine was also continuing to perform above plan, the board said, and was 17% ahead of its planned rutile production as a result of higher throughput and utilisation.The board reiterated its production guidance of between 135,000 and 145,000 tonnes of rutile for the full year, with rutile production at 104,489 tonnes for the 12 months to the end of the third quarter."We are delighted with the excellent production performance for the quarter, demonstrating the strength of our operations," said chief executive John Sisay."In particular, the Gangama Dry Mine continues to perform ahead of our expectations."We anticipate a strong final quarter and we remain on track to meet our production guidance for the full year."