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Coeur Mining Reports Rise In Third-Quarter Production

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Coeur Mining, Inc. (NYSE: CDE) reports a 7% quarter-on-quarter rise in silver-equivalent production in the July-September period and a 10% year-on-year increase. Output of 9.5 million silver-equivalent ounces was comprised of 4 million silver ounces and 93,293 gold ounces. Higher quarter-over-quarter silver-equivalent production was driven by a 13% increase in gold production, while higher year-over-year silver equivalent production was due to a 10% increase in gold production and an 11% increase in silver production, the company says. Meanwhile, the company says 2017 production guidance has been revised to reflect lower expected silver production at the San Bartolomé mine due to a drought. Coeur now lists full-year silver guidance of 15.3 million to 16.6 million ounces, with silver-equivalent production of 37.3 million to 40.1 million ounces.

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

 

New Gold Announces First Gold Pour at Rainy River Mine

Friday October 06, 2017 09:36

New Gold Inc. (TSX, NYSE: NGD) says the company has completed its first gold pour at the Rainy River Mine in Canada, with commissioning plans still on schedule. The first pour yielded approximately 500 ounces of gold and 600 ounces of silver. “Our team is proud to have delivered on all of the key project milestones since the beginning of 2017; however, the first gold pour is a particularly special one for New Gold and its stakeholders,” says Hannes Portmann, president and chief executive officer. The Rainy River Mine began processing ore on schedule on Sept. 14.

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

 

Royal Gold Pays Down $50 Million Of Debt

Friday October 06, 2017 09:36

Royal Gold, Inc. (NASDAQ: RGLD) says it repaid $50 million of the outstanding balance on its revolving credit facility during the fiscal first quarter of 2018. As of Sept. 30, there was $200 million of debt outstanding, resulting in $800 million available. Meanwhile, the company says subsidiary RGLD Gold AG sold approximately 61,000 gold-equivalent ounces, consisting of some 48,000 gold ounces, 537,000 silver ounces and 1,170 tonnes of copper, during the quarter. Also, the company had approximately 15,000 gold ounces and 470,000 silver ounces in inventory when the quarter ended.

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

 

Guyana Goldfields Posts Record Monthly Output At Aurora Mine

Friday October 06, 2017 09:36

Guyana Goldfields Inc. (TSX: GUY) says third-quarter gold output from its Aurora Gold Mine in Guyana, South America totaled 41,000 ounces, with the company achieving a record production month with 18,900 ounces in September. The company also says it is on track to meet the lower end of its annual production guidance of 160,000 to 180,000 ounces of gold. "After a slow start to the quarter with the inability to strip loaded carbon, the elution circuit boiler was fully repaired ahead of schedule and below the estimated budget. Due to the quick repair work, the company was able to strip the excess carbon in inventory and nearly all gold sales were realized within the third quarter for a strong finish,” says Scott A. Caldwell, president and chief executive officer. The mill head grade and recovery steadily increased during the quarter, he says. “Management expects head grade and recovery to continue to increase in the fourth quarter of 2017 and finish the year with its strongest quarter yet."

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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