Highland Gold production levels grow following improved second quarter

Jersey-based miner Highland Gold reported a rise in first-half production after an increase in second-quarter output.

Production rose 10% to 142,254 ounces of gold and equivalent in the six months to 30 June after producing 70,293 ounces in the second quarter, a "slight" increase on the 69,610 ounces produced a year earlier.

As a result of the solid start to the year, Highland maintained its full-year production guidance of 290,000 - 300,000 ounces of gold and equivalent.

The AIM-listed group's average realised gold price came to $1,309 per ounce in the second quarter and $1,308 in the first half of the year.

Elsewhere, Highland's Belaya Gora and Novoshirokinskoye operations reported year-on-year declines in output during the half, limiting growth. However, Highland did note that grades at Novo had improved "substantially" during the second quarter.

As of 0845 BST, Highland shares were up 3.35% to 222.20p.