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Yamana Reports First Gold, Silver Pour At Cerro Moro

Kitco News

Yamana Gold Inc. (TSX: YRI; NYSE: AUY) announces that the first pour of gold and silver doré at Cerro Moro occurred on Tuesday. Cerro Moro is a high-grade gold and silver operation sourcing ore from a combination of underground and open-pit mining in Argentina. The ramp-up remains on track, with commercial production expected in the second quarter, Yamana says. Guidance is for output of 85,000 gold ounces and 3.75 million silver ounces this year, followed by 125,000 gold ounces and 6 million silver ounces in 2019.

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

 

Roxgold Lists 1Q Profit, Record Output; Guidance Hiked

Wednesday May 14, 2018 09:07

Roxgold Inc. (TSX: ROXG) reports a first-quarter profit on record production of 40,452 ounces of gold, up from 35,594 in the same period a year ago. Officials also hiked output guidance for the current year. Net income for the three-month period ended March 31 came to $13.9 million, or 3 cents per share, up from $3.8 million, or a penny, in the first quarter of 2017. “As a result of the continued outperformance at Yaramoko that delivered record cash flow and gold production in the first quarter, we have increased our full-year production guidance to be between the range of 120,000 to 130,000 ounces and have reduced our cash operating cost and all-in sustaining cost guidance for the year, says John Dorward, president and chief executive officer. He later adds, “Our Bagassi South expansion is tracking well to the schedule and budget and will be completed in the fourth quarter, while we continue executing on our extensive regional exploration program.”

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

 

Brio Gold Reports Net Loss In First Quarter

Wednesday May 14, 2018 09:07

Brio Gold Inc. (TSX: BRIO) reports a net loss in the first quarter of $8.7 million, or 7 cents per share, compared to a net income of $3.4 million, or 3 cents, in the first quarter of 2017. The turnaround was mainly due to lower mine operating earnings, acquisition transaction-related expenses and changes in income-tax expense, the company says. The adjusted loss in the first quarter was $4.6 million, compared to adjusted earnings of $3.5 million in the same period of 2017. Gold production eased to 46,057 ounces from 50,540, but was in line with company expectations. In February, the company announced an agreement in which Leagold Mining Corp. would acquire Brio Gold. The transaction received shareholder approval and is expected to close by the end of May, Brio says.

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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