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Kirkland Lake: Second-Quarter Gold Production Rises

Kitco News

Kirkland Lake Gold Ltd. (TSX, NYSE: KL; ASX: KLA) lists second-quarter gold output of 164,685 ounces, up from 160,305 ounces in the second quarter of 2017 and 147,644 ounces in the first quarter of this year. The company says the tally exceeded target levels due to record quarterly production from Macassa of 60,571 ounces and record monthly production in June at Fosterville of 31,710 ounces. The company lists record first-half production of 312,329 gold ounces, an increase of 7% from 290,733 ounces in the first six months of 2017. “Based on our solid first-half results, and expectations for H2 2018, we are very much on track to achieve our consolidated production guidance for 2018 of more than 620,000 ounces,” says Tony Makuch, president and chief executive officer.

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

 

Allegiant: Goldcorp Investment To Help Fund Drill Program

Tuesday July 10, 2018 08:25

Allegiant Gold Ltd. (TSXV: AUAU) reports that mining giant Goldcorp Inc. (TSX: G, NYSE: GG) has made an investment in the company. Allegiant announces a non-brokered private placement to raise C$4.4 million, consisting of around 12.6 million shares of Allegiant at a price of 35 Canadian cents per share. In connection with the offering, Goldcorp will purchase some 5.9 million Allegiant shares at this price for gross proceeds to Allegiant of C$2.1 million. After closing, Goldcorp will own around 10% of outstanding shares. “Proceeds of the offering will be used to carry-out high-impact ‘discovery’ exploration drill programs on six of Allegiant’s high-priority exploration projects, located principally in the mining-friendly jurisdiction of Nevada,” Allegiant says.

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

 

Endeavour Silver: Second-Quarter Output Up From Year Ago

Tuesday July 10, 2018 08:25

Endeavour Silver Corp. (TSX: EDR, NYSE: EXK) reports that consolidated production at its three silver-gold mines in Mexico rose during the second quarter. Silver output was up 19% to 1,355,895 ounces, compared to 1,143,788 ounces a year ago. Gold production rose 5% to 13,674 ounces from 13,058 a year ago. Bradford Cooke, chief executive officer, says “we are on track to meet our guidance of higher production and lower costs in 2018 thanks to improved operating performance at the El Cubo and the development of our fourth mine at El Compas.” The company lists silver-equivalent production of 2.4 million ounces using a 75:1 silver-gold ratio.

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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