TORONTO, ONTARIO--(Marketwired - Jan. 5, 2017) - Teranga Gold Corporation ("Teranga" or the "Company") (TSX:TGZ) (ASX:TGZ) is pleased to announce 2016 gold production of 216,735 ounces, exceeding the high end of its 2016 production guidance range of 200,000 to 215,000 ounces.
"Strong operational performance by our employees who worked tirelessly throughout the year enabled Teranga to achieve record production in 2016," stated Richard Young, President and Chief Executive Officer. "Our processing plant operated at record levels this year, following the early commissioning of the mill optimization project that is expected to increase our mill capacity by up to 15% per annum."
Teranga also announced today that it will release its operating results for the three and twelve months ended December 31, 2016 on Monday, January 30, 2017 at approximately 6:00 a.m. ET. A conference call and audio webcast will be held later that morning at 8:30 a.m. ET to review and discuss the quarter's highlights.
Those wishing to listen can access the live conference call and audio webcast as follows:
About Teranga Gold
Teranga is a multi-jurisdictional West African gold company focused on production and development as well as the exploration of more than 5,000km2 of land located on prospective gold belts.
Since its initial public offering in 2010, Teranga has produced more than 1.2 million ounces of gold from its operations in Senegal. Following its recent acquisition of Gryphon, the Company is fast-tracking the development of Banfora, which is expected to commence production as early as 2019. Concurrent with its production and development activities, exploration programs are underway to increase the Company's reserve base through resource conversion and making major new discoveries. Teranga has a strong balance sheet and the financial flexibility to continue to grow its business.
Steadfast in its commitment to set the benchmark for responsible mining, Teranga operates in accordance with the highest international standards and aims to act as a catalyst for sustainable economic, environmental, and community development as it strives to create value for all of its stakeholders. Teranga is a member of the United Nations Global Compact and a leading member of the multi-stakeholder group responsible for the submission of the first ever Senegalese Extractive Industries Transparency Initiative revenue report. The Company's 2015 responsibility report, which is available at www.terangagold.com/2015responsibilityreport, is prepared in accordance with its commitments under the United Nations Global Compact and in alignment with the Global Reporting Initiative guidelines.