Interview with Paul Huet, CEO of Gold Producer Karora Resources (TSX: KRR)

Matthew Gordon spoke with Paul Andre Huet, the Chairman and CEO of Karora Resources (TSX:KRR) to discuss the company and its recent activities. 

Karora Resources is a Western Australian gold producer focused on its 100% owned asset portfolio consisting of the Beta Hunt mine, Higginsville Gold Operations and the Spargos Gold mine. The mining operations of the company feed its two centralised mills, namely the Higginsville mill, a 1.6 Mtpa operation and the Lakewood mill, a 1.0 Mtpa operation acquired in 2022. The company aims to reach a gold production of between 185,000 and 205,000 ounces of gold per year by 2024. 

The company announced on the 3rd of March 2023 that it had concluded with the construction of the second decline at its Beta Hunt mine, which connected to the 500 level of the mine. The construction of the decline was accomplished by the company under budget and ahead of schedule. Karora Resources further announced that the first three new vent raise installations have been completed, with the completion of two additional vent raise installations being the next critical milestone in the Beta Hunt mine expansion plan. 

Karora Resources on the 7th of March 2023 announced an increase of 8% in the measured and indicated nickel resources and a 2% increase in the inferred nickel resources of the Beta Hunt mine. The nickel resources of the mine now total 21,100 tons of nickel in the measured and indicated category and 13,400 tons in the inferred category. 

The company plans to conduct infill and expansion drilling initiatives at the Beta Hunt mine in the coming year which will be funded through its cash flow. The drilling will be focused on the East Alpha and 40C resources in the Beta mineral block and the 50C/10C resources in the Gamma mineral block.