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Kirkland Lake 1Q Output Higher, On Track For 2017 Guidance

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Kirkland Lake Gold Ltd. (TSX: KL) reports consolidated production of 130,425 ounces of gold in the first quarter, up from 127,521 in the same period a year ago. Tony Makuch, president and chief executive officer, says the first quarter “reflects a solid start to the year and supports our 2017 production target of 500,000 (to) 525,000 ounces.” The company lists production of 48,723 ounces at the Macassa Mine, plus record gold output of 46,083 ounces at the Fosterville Mine. Kirkland Lake says it ended the first quarter with a cash balance of approximately $280 million, an increase of $45 million from the Dec. 31 balance of $234.9 million.

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

 

Centerra Gold Reports Casualty At Kumtor Mine

Wednesday April 12, 2017 08:25

Centerra Gold Inc. (TSX: CG) reports a fatality at its Kumtor mine in the Kyrgyz Republic. A vehicle mechanic died of injuries sustained Tuesday while inspecting a pickup truck in the field, the company says. An internal investigation has begun, and Kumtor management is working with Kyrgyz regulatory authorities, Centerra says. “Centerra and Kumtor are deeply saddened by this event and extend our deepest condolences to the individual's family, friends and colleagues," says Scott Perry, Centerra's chief executive officer, adding that the company is “committed to the well-being of our employees and contractors on all of our sites.”

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

 

Gran Colombia 1Q Output Rises 24% From Year Ago

Wednesday April 12, 2017 08:25

Gran Colombia Gold Corp. (TSX: GCM) says it produced 39,008 ounces of gold in the first quarter, up 24% from the same period last year. With the trailing 12 months of total gold production as of the end of March increasing 5% over 2016 annual production to 157,227 ounces, the company says it remains on track with its 2017 production guidance of 150,000 to 160,000 ounces. At the Segovia operations, a 19% increase in tonnes processed and improved mill recovery were the key drivers behind a 26% year-over-year increase in first-quarter gold production to 32,768 ounces. At Marmato, gold production in the first quarter was 6,240 ounces, up 14% over the first quarter last year, driven by a 20% year-over-year increase in tonnes processed and improved mill recovery, the company says. 

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

 

Silver Standard Produces 97,851 Gold-Equivalent Ounces In 1Q

Wednesday April 12, 2017 08:25

Silver Standard Resources Inc. (NASDAQ: SSRI) (TSX: SSO) announces output totaled 97,851 gold-equivalent ounces from three operations during the first quarter. Gold production at Marigold was according to plan with 55,215 ounces, while Seabee output was described as “robust” with 21,023 ounces as higher-grade ore was sourced from the Santoy mine. Meanwhile, at Pirquitas, open-pit mining was concluded in January and stockpile processing began, taking quarterly production to 1.5 million ounces of silver. The mill continued to operate at a rate of approximately 5,000 tonnes per day, 25% above nominal throughput, the company says. Paul Benson, president and chief executive officer, says Seabee continued “to demonstrate a capability to produce above historical levels. The sustained contribution from all three of our assets was solidified by our recent announcement to exercise our option on the Chinchillas project to extend the operating life of Pirquitas.”

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

 

Jaguar Mining Reports 5% Rise In First-Quarter Output

Wednesday April 12, 2017 08:25

Jaguar Mining Inc. (TSX: JAG) reports first-quarter gold production of 22,291 ounces, up 5% year-on-year. “In particular, strong operating performance at Pilar resulted in an 86% increase in gold production to 8,485 ounces, and a 17% improvement in grade to 3.39 g/t (grams per tonne) compared to Q1 2016,” says Rodney Lamond, president and chief executive officer. “Pilar’s strong performance reflects the advancing of ore development (614 meters) into the high-grade Orebodies BF and BFII.” The Turmalina Gold Mine produced 12,736 ounces of gold, lower than the first quarter of this year and fourth quarter, due to lower throughput and grade, the company says. “Turmalina’s mining activities in a high-grade section of Orebody A were temporarily interrupted during the quarter due to ground control rehabilitation,” Lamond says. “We are confident that a revised mining schedule at Turmalina will recover the gold production shortfall during the second quarter.”

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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