Besra Gold Inc. announced production results for the first quarter of fiscal 2014. during the quarter, 14,425 oz of gold produced with a cash cost per oz of $1,002 and all-in sustaining costs of $1,463 per oz against 11,912 oz of gold produced with a cash cost per oz of $874 and all-in sustaining costs of $1,381 per oz for the same period of last year. These costs were higher than budget owing to a disputed export tax assessment. But for those interruptions and one-off additional costs, normalised all-in sustaining costs would have been below fiscal 2014 target of $1,150 and operating cash costs below $700. The company calculates that over 3,000 ounces of lost production occurred due to the restrictions. Future quarters are expected to revert to the normalized figures. Ore mined were 156,587 tonnes against 96,189 tonnes for the same period of last year. LBITDA was $904,564 against EBITDA of $3,022,891 for the same period of last year.

The company announced that the delays meant that first quarter of 2014 ounce production was less than planned and at higher costs. Despite this, the company is maintaining its production forecast for fiscal 2014 of 65-70,000 oz and is still targeting annual all-in sustaining costs of $1,150 per ounce.