Asanko Gold Inc. (TSX, NYSE American: AKG) reports a third-quarter loss but also lists record output. The loss was $0.3 million, or zero cents per share, compared to net income of $4.2 million, or 2 cents, in the year-ago period. The reduction was mainly due to lower mine operating earnings on the Asanko Gold Mine joint venture and the start of equity accounting for Asanko’s interest in the mine. Also, production costs and depreciation for the mine were higher than a year ago. The company lists an adjusted loss of $1.6 million, or a penny per share. Meanwhile, Asanko reports record quarterly gold production of 61,599 ounces. “As we enter the final quarter of the year, with production of 163,329 ounces and AISC (all-in sustaining costs) of $1,072 year to date, the mine is well positioned to meet the top end of 2018 guidance of 200,000-220,000 ounces at AISC of $1,050-$1,150,” says Peter Breese, president and chief executive officer.Torex Gold Resources Inc. (TSX: TXG), which operates the El Limón Guajes mining complex in Mexico, reports a profitable third quarter as output hit a record high. Net income after current and deferred income tax expense totaled $23.9 million, or 28 cents a share, a marked improvement from a loss of $1.6 million, or 2 cents, a year ago. Excluding special items, adjusted net earnings were $7.3 million, or 9 cents per share. Torex lists record gold production of 100,346 ounces in dore and an additional 1,135 ounces in carbon fines. “This was an excellent quarter with record gold production of over 100,000 ounces as the company successfully continues toward full ramp-up,” says Fred Stanford, president and chief executive officer. “Grades processed were above LOM (life-of-mine) average, recoveries above design, and plant throughput is ramping toward design levels by year end.”Alio Gold Inc. (TSX, NYSE American: ALO) lists a third-quarter net loss of $3.72 million, or 4 cents per share, which includes a one-time impairment charge of $8.96 million on the used processing plant being stored for use at Ana Paula. The profit in the same period a year ago was $5.2 million, or 12 cents. The company produced 23,606 ounces of gold at an all-in sustaining cost of $1,293 per ounce. The company also announces updated mineral reserves and resources. Proven and probable reserves at the San Francisco Mine totaled 55.5 million tonnes of ore with an average grade of 0.49 gram of gold per tonne, containing 854,472 ounces of gold as of July 1. Measured and indicated resources at the Florida Canyon Mine totaled 132.9 million tonnes of ore with an average grade of 0.40 g/t, containing 1.7 million ounces of gold as of July 31.Mandalay Resources Corp. reports a third-quarter net loss as output declined on operational issues, with the company also trimming its full-year production guidance.
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