Crocodile Gold raises production outlook

Crocodile Gold (TSE:CRK) expects higher gold output this year, expecting to produce between 75,000 and 85,000 ounces of gold at a cash cost of US $1,100 to $1,300 per ounce.

The company realeased its outlook on Wednesday. The company is up 13% this month and currently trading at 58 cents.

Crocodile Gold says the underground mine, Cosmo, is expected to contribute 50,000 to 60,000 ounces of gold, or more than 70% of total gold production.

Crocodile Gold operates a number of gold mines in the Northern Territory of Australia.