PROFIT & LOSS

Junior gold producers cut debt, build cash in first quarter

Canada-listed junior gold producers have reported an aggregate 387,550 ounces of production for the first quarter to March 31, an increase of 8.8% over the first quarter of 2019, at an aggregate all-in sustaining cost (AISC) of US$1,145/oz, up 16.1% from $986/oz in the prior year period. TMAC Resources and Guyana Goldfields, both the subject of acquisitions, have yet to report their first quarter results.