Avesoro’s interim Ebitda, revenue rise

TSX- and Aim-listed Avesoro Resources has reported earnings before interest, taxes, depreciation and amortisation (Ebitda) of $64.6-million for the six months ended June 30, compared with Ebitda of $1.1-million reported for the first half of the 2017 financial year. With a 318% year-on-year increase in production to 128 319 oz of gold, the West African gold producer achieved revenue of about $165.9-million from gold sales of 125 838 oz at an average realised gold price of $1 318/oz, compared with revenue of $39-million and gold sales of 30 375 oz in the first half of the prior year.