Ecora Resources PLC (LSE:ECOR, TSX:ECOR, OTCQX:ECRAF) said it has received notification that saleable production from the Kestrel mine in Australia during the fourth quarter of 2022 was impacted by reduced mining rates and operational constraints.
These constraints could be expected to continue into 2023, the company added.
The average realised price for product sold from Ecora’s private royalty area on the Kestrel operation during the period was approximately US$280 per tonne, and was in line with the quarterly average market price.
This resulted in royalty income for the fourth quarter of approximately US$10mln.
Although the operational constraints have had a negative impact, strong pricing throughout the year resulted in a record Kestrel contribution of US$107mln for 2022, representing a 123% increase on the 2021 Kestrel contribution of US$48mln.