St Andrew Goldfields (SAS.TO) has released its production numbers for 2013. As the gold production in the fourth quarter came in in line with the expectations of 24,300 produced ounces, there are no big surprised in the production of just shy of 100,000 ounces of gold for the entire year. This is right in the middle of the earlier given guidance of 95-105,000 ounces for this year.
St Andrew Goldfields is one of the very few gold mining companies which continue to be free cash flow positive and might as such be an attractive takeover or merger target for another junior mining company to create a new mid-tier producer in a geopolitically safe jurisdiction.
Disclosure: The author holds no position in St Andrew Goldfields. Please see our disclaimer for current positions.