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Agnico Eagle Gets License Needed For Construction Of Whale Tale Pit

Kitco News

Agnico Eagle Mines Ltd. (NYSE, TSX: AEM) reports that it has received a Type A water license for the Whale Tail pit at the Amaruq project, which allows for construction to begin. Agnico Eagle says preliminary construction work and stripping will begin in the third quarter of 2018.  "With the approval of the Whale Tail Type A license, the project remains on schedule to commence production in the third quarter of 2019, and exploration activities continue to expand the known mineralization, which could potentially extend the mine life,” says Sean Boyd, chief executive officer. Meanwhile, the Meliadine project is also proceeding on schedule and on budget, the company reports. Expectations are for production to begin in the second quarter of 2019.

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

 

Randgold: Workers Go On Strike At Tongon Mine

Monday July 16, 2018 09:20

Randgold Resources (Nasdaq: GOLD; LSE: RRS) reports that workers at the Tongon mine in the Ivory Coast have gone strike after government-led negotiations failed to bring about an agreement. “Management continues to engage with the authorities and the unions to resolve the situation,” the company says. The Tongon mine produced 288,680 ounces of gold in 2017, with 290,000 projected for 2018, according to Randgold’s website.

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

 

Fortuna Reports 2Q Silver Output Rises From Year Ago

Monday July 16, 2018 09:20

Fortuna Silver Mines Inc. (NYSE: FSM; TSX: FVI) reports second-quarter production of 2.3 million ounces of silver and 14,557 ounces of gold. The silver output is 10% higher year-on-year, while the gold output is in line with the second quarter of 2017, the company says. For the first half of 2018, Fortuna lists production of 4.7 million silver ounces and 29,597 gold ounces, which are 13% and 20% above the company’s mid-year projection. Fortuna said it is on schedule to meet its full-year production guidance of 8.3 million silver ounces and 48,300 gold ounces.

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

 

McEwen 2Q Gold-Equivalent Production Rises

Monday July 16, 2018 09:20

McEwen Mining (NYSE, TSX: MUX) lists production of 47,258 gold-equivalent ounces in the second quarter, up from 32,584 in the same period a year ago. This includes second-quarter silver output of 772,432 ounces and gold output of 39,959 ounces. The gold production jumped from 22,191 in the year-ago period, while the silver production was roughly steady.

 

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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