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Torex: Union Withdraws Application To Represent ELG Mine Workers

Kitco News

Torex Gold Resources Inc. (TSX: TXG) says the company has been notified by the Federal Labor Board that the Los Mineros Union has withdrawn a challenge to be the legally constituted union for ELG Mine Complex employees in Mexico. This means there is no longer a choice between unions to be made by employees, the company says. Union-related issues had resulted in blockades during the last half year. “Enough has already been said about the disruption caused by this union representation challenge and associated illegal blockade,” says Fred Stanford, president and chief executive officer. “With the recent end of the blockade and now the end of the union representation challenge, we can move forward with an absolute focus on value creation for shareholders and all stakeholders.” The CEO later adds: “We see this Los Mineros Union withdrawal from the union selection process as a tacit acknowledgement that the incumbent CTM Union has the support of the majority of union eligible employees.”

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

 

New Fekola Mine Enables B2Gold To Post Record Output, Revenue

Wednesday April 11, 2018 09:06

B2Gold Corp. (TSX: BTO; NYSE AMERICAN: BTG; NSX: B2G) reports record production and revenue in the first quarter after the Fekola Mine hit commercial output in late November. The company lists consolidated gold output of 239,684 ounces. This is up 81%, or 106,948 ounces, over the same period last year and is also 7%, or 16,252 ounces, above budget, the company says. B2Gold lists record quarterly gold revenue of $344.3 million, which was up 135%, or $198 million, from the year-ago period. “B2Gold is well on target to achieve transformational growth in 2018 and meet its annual guidance of between 910,000 and 950,000 ounces of gold production in 2018 at cash operating costs of between $505 and $550 per ounce and all-in sustaining costs of between $780 and $830 per ounce,” the company says. The projected full-year output would be some 300,000 ounces higher than last year.

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

 

Pretium: Brucejack Produces 75,689 Gold Ounces As Ramp-Up Continues

Wednesday April 11, 2018 08:38

Pretium Resources Inc. (TSX, NYSE:PVG) reports output of 75,689 ounces of gold during the first quarter as ramp-up continues at the new high-grade Brucejack Mine in British Columbia. The company reports a 96.8% gold recovery rate. Pretium also lists a 10.9-grams-per- tonne gold mill feed grade for March, with an average of 9.1 grams for the quarter. “Gold production improved steadily through the first quarter, with 32,910 ounces produced in March. This result is attributed to the successful implementation of a number of operational improvement initiatives,” says Joseph Ovsenek, president and chief executive officer. “Our grade control program has now been fully integrated into our mining process and the rate of underground development has increased to provide for additional stopes in our inventory. We are focused on continuing to increase grade to the mill in Q2, and we remain on track to deliver on our H1 2018 production guidance of 150,000 to 200,000 ounces of gold….”

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

 

Golden Star First-Quarter Production Steady

Wednesday April 11, 2018 08:38

Golden Star Resources (NYSE American: GSS; TSX: GSC; GSE: GSR) reports that first-quarter gold production of 57,616 ounces was in line with 57,795 ounces in the same period a year ago. The company reports stronger-than-expected output from the Wassa underground mine, allowing the complex to produce 35,506 ounces despite the end of output from the main pit during January. "At the end of the first quarter of 2018, Golden Star is on track to achieve its 2018 gold production guidance,” says Sam Coetzer, president and chief executive officer. “Wassa's strong performance following the cessation of open-pit production continues to confirm the robustness of the underground operation, both in terms of grade and productivity. The majority of the open-pit workforce severance charges are now behind us and we believe that Wassa's performance will strengthen further as the year progresses. At Prestea Underground, we remain confident in our chosen mining method and in our ability to deliver high-grade production to plan. The mining sequence continues to improve and we expect that by the middle of the second quarter of 2018, production will have begun to ramp up.”

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

 

Leagold: 1Q Gold Output In Line With Guidance

Wednesday April 11, 2018 08:38

Leagold Mining Corp. (TSX: LMC) announces first-quarter gold production at the Los Filos mine in Mexico was 51,003 ounces, leaving the company in line with the full-year guidance range of between 215,000 and 240,000 ounces. The operating plan at Los Filos calls for higher output in the second half of 2018, the company says.”On closing of the Brio Gold acquisition, the combined company is expected to produce gold at a rate of approximately 450,000 ounces per year from four mines in Mexico and Brazil,” says chief executive Neil Woodyer.

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

 

Alio Gold 1Q Output Falls; Production Guidance Maintained

Wednesday April 11, 2018 08:38

Alio Gold Inc. (TSX, NYSE AMERICAN: ALO) says preliminary results show production of 17,624 ounces in the first quarter at the San Francisco Mine in Mexico. This is down from 26,048 in the same period of 2017. However, the company maintained 2018 guidance of between 90,000 and 100,000 ounces of gold. “We anticipated the first quarter to be our lowest production quarter of the year as we implemented our dual cut-off strategy at San Francisco,” says chief executive Greg McCunn. Alio says the proposed merger with Rye Patch Gold has been supported by major shareholders and is on track to close May 25.

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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