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Argonaut Gold Maintains Guidance While Appeal Process Continues

Kitco News

Argonaut Gold Inc. (TSX: AR) says it is maintaining 2018 production guidance, assuming the company’s explosives permit for the La Colorada mine is reinstated by Aug. 1. A judiciary court hearing that was supposed to have occurred on Monday was postponed, and a new date has not been set. Argonaut has filed an appeal with the Collegiate Tribunal seeking reinstatement of the explosives permit so that the company can blast material while the judiciary legal process continues. With free-dig material in the pit and ore stockpiles, Argonaut estimates it has sufficient ore to continue operations until the end of July at its budgeted crushing throughput level of 12,000 tonnes per day.  “The company has thoroughly reviewed its 2018 consolidated production forecast and, under the assumption the explosive permit is reinstated by Aug. 1, 2018, it re-iterates its consolidated production guidance of between 165,000 and 180,000 gold-equivalent ounces,” Argonaut says.

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

 

Pan American Reports Improved Security Around Delores Mine

Tuesday June 5, 2018 09:05

Pan American Silver Corp. (Nasdaq, TSX: PAAS) reports that security has improved in the area around its Dolores mine after increased patrol and enforcement by Mexican authorities. Operations were scaled back last month due to worries about workers safely making their way to the mine due to violence in the area. With improved security, the company says transportation of diesel fuel, cement and other supplies to the mine by roads has now resumed. Pan American says it will increase the use of its private airstrip to transport people to and from the mine site until the situation normalizes. For now, Pan American says production of silver and gold continues at normal rates due to a large reserve of stockpiled ore that is being processed, and officials do not expect a material impact to its annual production guidance for 2018.  Michael Steinmann, president and chief executive officer, expressed gratitude to authorities for “rapid deployment of resources to secure the access roads to our Dolores mine,” adding that the company will “continue to work closely” with the government.

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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