Teranga Gold Corporation (ASX:TGZ, TSE:TGZ) has strengthened its balance sheet by retiring the outstanding US$15 million (A$18.5 million) balance of its loan facility with Macquarie Bank (ASX:MGQ).
The company has also increased its cash and cash equivalents balance to US$35.7 million as at 31st December 2014.
Fourth quarter production totalled 71,278 ounces from its Sabodala Gold Mine in Senegal, putting full-year 2014 production results at 211,823 ounces.
Gold Production
Production was marginally lower than fourth quarter guidance primarily due to slightly lower recovery rates than planned.
The fourth quarter ended 31st December 2014 saw record quarterly mill throughput of 1,009,038 tonnes milled contributing to the second highest quarterly production of 71,278 ounces.
Ore was sourced from both the Sabodala and Masato pits, with soft ore from the recently developed Masato pit contributing to higher throughput rates
Full-year production of 211,823 ounces represents the second highest production total in Company history.
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