UPDATE 1.50pm: Shares in Tiger Resources were higher after the company exceeded 2012 production forecasts by 6 per cent and tipped significantly lower cash operating costs for the year ahead.
Tiger, which operates the Kipoi copper project in the Democratic Republic of Congo, said it had produced 36,962 tonnes of copper in concentrate in 2012.
The company attributed the higher production to two periods of one million man hours without lost time owing to injury as well as no reportable environmental or social incidents.
"Operating costs are yet to be finalised and will be announced as part of the December quarterly report, due for release later this month," the company said.
Tiger said it expected 2013 production to be at least 37,000 tonnes of copper in concentrate, with average direct cash operating costs of 48 cents a pound, significantly below the guidance for 2012 of 65 cents a pound.
Tiger shares closed up 1.5 cents, or 4.84 per cent, at 32.5 cents.
