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Alamos Gold Reports Record Quarterly Output

Kitco News

Alamos Gold Inc. (TSX, NYSE: AGI)  posted record quarterly production of 107,000 ounces of gold between July and September, including record output of 55,800 ounces from Young- Davidson, 36,300 ounces from Mulatos and 14,900 ounces from El Chanate. The consolidated output is up from 99,228 ounces in the same period a year ago. Quarterly revenues totaled $129 million from the sale of 100,551 ounces of gold at an average realized price of $1,281 per ounce. Alamos says it is on track to meet full-year production guidance of 400,000 to 430,000 ounces. “Operationally we delivered a strong third quarter with record production and significant milestones achieved at both our key operations,” says John A. McCluskey, president and chief executive officer. “This included the completion of the MCM waste pass at Young-Davidson, contributing to higher underground mining rates in September, and initial production from our La Yaqui mine in the Mulatos district.”

By Allen Sykora of Kitco News; asykora@kitco.com

 

Gran Colombia Gold Lists Record Monthly Production

Thursday October 12, 2017 09:53

Gran Colombia Gold Corp. (TSX: GCM) produced a monthly record of 16,664 ounces of gold in September. This brought the total for the third quarter to 37,039 ounces, only 5% below the third quarter of last year despite a 42-day civil disruption at its Segovia operations that ended on Sept. 1. “We were very pleased to get quickly back up to speed following the resumption of normal operations at Segovia at the beginning of September,” says Serafino Iacono, executive co-chairman. “With continued solid head grades coming out of our company-operated areas at the Providencia mine and additional contract miner material at Segovia in the third quarter, we remain on track with our 2017 production guidance and are confident we can meet our financial objectives for this year.”

By Allen Sykora of Kitco News; asykora@kitco.com

 

Richmont: Island Gold Mine Posts Record Quarterly Output

Thursday October 12, 2017 09:53

Richmont Mines Inc. (TSX, NYSE: RIC), which has agreed to be acquired by Alamos Gold, reports third-quarter production at the Island Gold Mine hit a record 26,659 ounces. Production was helped by a higher-than-planned grade of 10.04 grams per tonne, with the mine now positioned to exceed the high end of annual production guidance of 87,000 to 93,000 ounces, Richmont says.  The transaction with Alamos is scheduled to be completed around Nov. 23.

By Allen Sykora of Kitco News; asykora@kitco.com

 

Great Panther Silver Posts Higher 3Q Production

Thursday October 12, 2017 09:53

Great Panther Silver Ltd. (TSX: GPR; NYSE MKT: GPL) says third-quarter production at its two Mexican mines increased 13% year-on-year to 1,080,483 silver-equivalent ounces. Silver production increased 4% to 532,803 ounces, while gold production increased 8% to 5,848 gold ounces. Lead and zinc production increased year-on-year by 78% and 74%, respectively. “The results are consistent with the previous quarter and fall in line with the company's annual guidance," says James Bannantine, president and chief executive officer. "The increase in gold production compared to the second quarter 2017 is a direct result of the improved gold grades and recoveries."

By Allen Sykora of Kitco News; asykora@kitco.com

 

Dundee Precious Metals Output In Line With Annual Guidance

Thursday October 12, 2017 09:53

Dundee Precious Metals Inc. (TSX: DPM) reports third-quarter output of 48,400 gold ounces at its Chelopech Mine, along with 9.5 million pounds of copper. The company says it is on track to meet full-year guidance of 173,000 to 187,000 ounces of gold and 35 million to 39 million ounces of copper “We are pleased with our third-quarter results given continued strong production from Chelopech, improved stability from Tsumeb, and construction progress at Krumovgrad, which remains on track for first gold production in the fourth quarter of 2018,” says Rick Howes, president and chief executive officer.

By Allen Sykora of Kitco News; asykora@kitco.com

 

Harmony Reports Rise In Quarterly Gold Output

Thursday October 12, 2017 09:17

Harmony Gold Mining Co. Ltd. (NYSE: HMY; JSE: HAR ) says gold production from its South African underground operations will be 12% to 14% higher quarter-on-quarter, due to an increase in both volumes and recovered grade. Gold production was reported to be 6% to 8% higher than the corresponding quarter in the previous financial year. Peter Steenkamp, chief executive officer, “we remain on track to meet our production guidance.”  Harmony’s production results for the first quarter of the fiscal year will be released on Nov. 7.

By Allen Sykora of Kitco News; asykora@kitco.com

 

Kirkland Lake Reports Rise In 3Q Gold Production

Thursday October 12, 2017 09:17

Kirkland Lake Gold Ltd. (TSX, NYSE: KL) says consolidated gold production in the third quarter totaled 139,100 ounces, an increase of 4% from the year-ago period and 29% higher when excluding production from mines currently on care and maintenance. The company had posted record production of 160,300 ounces in the second quarter, with the decline since attributed to the suspension of operations at the Cosmo Mine and a pullback from record production of 77,100 ounces at Fosterville in the second quarter. Fosterville’s production of 61,500 ounces in the third quarter was its second-highest quarterly production ever. Kirkland says comparative information for the 2016 period includes production for the Fosterville, Cosmo and Stawell mines in Australia prior to completion of a merger between Kirkland Lake Gold Inc. and Newmarket Gold Inc. on Nov. 30, 2016. “Grades at Fosterville doubled from Q3 2016 and are expected to increase in the fourth quarter and to improve further over the next year, particularly as we ramp up production from the Swan Zone,” says Tony Makuch, president and chief executive officer. “At Macassa, grades improved from both the same period in 2016 and last quarter, and are expected to remain at or above current levels over the remainder of the year. Looking ahead, we are poised…to achieve our improved full-year 2017 production guidance of 570,000 [to] 590,000 ounces.”

By Allen Sykora of Kitco News; asykora@kitco.com

 

Roxgold: Yaramoko 3Q Gold Output Tops Expectations

Thursday October 12, 2017 09:17

Roxgold Inc. (TSX: ROXG) reports third-quarter gold output of 28,410 ounces from the Yaramoko gold project located in Burkina Faso. Officials say this was ahead of expectations. “With approximately 92,000 ounces produced, we are on track to meet guidance of 115,000 [to]125,000 ounces for the full year, which was recently increased from the original estimate of 105,000 [to] 115,000,” says John Dorward, president and chief executive officer. “We also look forward to delivering Roxgold’s first growth project, the Bagassi South feasibility study, which remains on schedule to be released in the fourth quarter.”

By Allen Sykora of Kitco News; asykora@kitco.com

 

Leagold: Los Filos Mine On Track To Meet 2017 Guidance

Thursday October 12, 2017 09:17

Leagold Mining (TSX: LMC) reports third-quarter gold output of 47,766 ounces at the Los Filos Mine, which is on track to meet guidance production of between 185,000 and 200,000 ounces for the full year. The company says quarterly output represents a steady increase over the first and second quarters. Leagold acquired the mine in April.

Disclaimer: The views expressed in this article are those of the author and may not reflect those of Kitco Metals Inc. The author has made every effort to ensure accuracy of information provided; however, neither Kitco Metals Inc. nor the author can guarantee such accuracy. This article is strictly for informational purposes only. It is not a solicitation to make any exchange in commodities, securities or other financial instruments. Kitco Metals Inc. and the author of this article do not accept culpability for losses and/ or damages arising from the use of this publication.

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