Galane revenues fall on softer gold prices

Mupane Gold Mine
Mupane Gold Mine

Softer commodity prices have seen the country’s sole gold producer Galane Gold recording decreased revenue from $40.5 million that was recorded in December 2014 to $26.2 million registered in December last year.

According to the group’s chief executive officer (CEO) Nick Brodie, the financial results for 2015 reflect the challenging gold price environment that has affected all gold producers during the past year.

“Gold sales for 2015 were 7,548 ounces less than in 2014. This was coupled with a reduction in the average gold price achieved between the two years of $126 per ounce. As a result revenue was $14.0 million less in 2015,” said Brodie.

Editor's Comment
Congratulations Anicia Gaothuse!

The contest had 10 beautiful young girls as finalists and unfortunately only one could wear the crown.The judges picked Anicia Gaothuse. To all those who feel their contestant should have won ahead of Anicia for whatever reason, hardly; the judges found Anicia to be the best among the best, so desist from disrespecting our newly crowned queen on social media or anywhere else, for that matter! Each of the 10 beautiful young women had supporters...

Have a Story? Send Us a tip
arrow up