The world's fifth largest gold miner increased production, had stronger cash flows and paid shareholders a dividend in the first quarter of its 2017 financial year.
While gold is giving back some of its largest gains following Trump's win in the US Presidential election, miners of the precious metals continue to climb.
Consumer demand for jewellery, coins and bars, dropped by a quarter as high prices slowed down acquisitions from top consumers China and India. Investments, however, were up by 44%.
Financing consisted of a loan of $50 million from Investissement Quebec along with $125 million for an 18% equity stake in TSMC through Ressources Quebec.
Countries heavily reliant on their extractive sectors need to step up efforts to lure investors or they will see their infrastructure sectors stalled, warn analysts.
The miner increased gold output guidance for the mine to 520,000 to 560,000 ounces and lowered all-in sustaining cost forecast to $666 – $718 per ounce.