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Coeur Mining Ups 2018 Production Guidance

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Coeur Mining, Inc. (NYSE: CDE) has upped full-year production guidance. The company lists second-quarter production of 3.2 million ounces of silver and 94,052 ounces of gold, or 8.8 million silver-equivalent ounces. Output was higher than in the year-ago period at most Coeur mines. The company says it hiked full-year production guidance to a range of 37.3 million to 40.5 million silver-equivalent ounces, increasing silver production guidance to 13.2 million to 14.6 million ounces, compared to 12.2 million to 13.8 million previously. Gold-output guidance was upped to between 360,000 and 380,000 ounces from 355,000 to 375,000 previously due to higher grades at the Palmarejo operation.

By Allen Sykora of Kitco News;


Royal Gold Sells 64,000 Gold-Equivalent Ounces In Fiscal 4Q

Monday July 09, 2018 10:06

Royalty and streaming company Royal Gold, Inc. (NASDAQ: RGLD) says it sold approximately 64,000 gold-equivalent ounces in its fiscal fourth quarter that ended June 30. This was comprised of approximately 51,000 gold ounces, 659,000 silver ounces and 700 tonnes of copper. Royal Gold had some 22,000 gold ounces and 573,000 silver ounces in inventory as of June 30. Average realized gold, silver and copper prices for the quarter were $1,314 per ounce, $16.55 per ounce, and $6,847 per tonne ($3.11 per pound), respectively, compared to $1,328, $16.77, and $6,902 ($3.13 per pound) in the prior quarter. The company says deliveries were adversely impacted by the temporary shutdown of the mill-processing facility at Mount Milligan that occurred early in 2018. This was offset by a slight inventory drawdown. "Due to the timing of shipments and deliveries of gold and copper, we expect the remaining impact of the early calendar 2018 temporary shutdown to be reflected in Royal Gold's first-quarter 2019 results, as some of the deliveries of gold and copper that were expected in July and August 2018 will be deferred to a later date," Royal Gold says.

By Allen Sykora of Kitco News;


Centamin: 2Q Gold Output Falls 25%; Full-Year Guidance Maintained

Monday July 09, 2018 08:24

Centamin Plc (TSX: CEE; LSE: CEY) reports that gold production declined by 25% year-on-year in the second quarter to 92,803 ounces. Officials blame the decline on lower open-pit grades as mining progresses through the transitional zone and below-forecast underground grades. For the first half of 2018, output fell 7% to 217,099 ounces. However, officials say, stronger production is expected in the second half. The company maintained revised full-year guidance of 505,000 to 515,000 ounces. “We have experienced several challenges this year, resulting in the revision of our full-year guidance in May,” says Andrew Pardey, chief executive officer. “I am pleased to report progress throughout June in the open pit, where mining has begun to access improved grades as we are currently mining through the lower areas of the transitional zone and into the sulphide ore, which will be mined in the third quarter and onwards for the next four years. Our focus now remains firmly on delivering the underground operations back in line with forecasts and returning Sukari’s production profile to a steady state.”

By Allen Sykora of Kitco News;


Alacer Increases Oxide-Plant Gold-Production Guidance

Monday July 09, 2018 08:24

Alacer Gold Corp. (TSX: ASR; ASX: AQG) has increased its guidance for 2018 oxide-plant production in Turkey to 110,000 to 130,000 ounces from 70,000 to 90,000 previously. Also, the company lists reduced oxides all-in sustaining costs of $650 to $700 per ounce, compared to $750 to $800 previously. The higher oxide gold-production guidance is due to in-pit exploration activities which discovered limestone-rich oxide material that can be added into the mining schedule, Alacer explains. Blending limestone-rich oxide material with stockpiled low-sulfide, high-carbonate ore provides an ore blend that can be efficiently processed on the heap-leach pad. “We have had an excellent start to our 2018 operations, with over 63,000 ounces of oxide-plant production halfway through the year,” says Rod Antal, Alacer’s president and chief executive officer. Meanwhile, production guidance from the sulfide plant remains unchanged at 50,000 to 100,000 ounces, with the construction of the plant on schedule and under budget, Alacer says. Alacer has an 80% interest in the Çöpler Gold Mine located in Turkey and operated by Anagold, with the remaining 20% owned by Lidya.

By Allen Sykora of Kitco News;


Pretium Resources: 'Steady-State Production' At Brucejack Mine

Monday July 09, 2018 08:24

Pretium Resources Inc. (TSX, NYSE: PVG) says “steady-state production” has been achieved at the Brucejack Mine in British Columbia, which began operations last summer. The mine produced 111,340 ounces of gold in the second quarter. “With more than 187,000 ounces produced in the first half of 2018, we have delivered on our first-half 2018 guidance of 150,000 to 200,000 ounces of gold,” says Joseph Ovsenek, president and chief executive officer. “The successful integration of our grade-control program into our mining process has resulted in increased grade to the mill, with production exceeding grade-control estimates for the quarter. Brucejack has now achieved steady-state production, and we expect to deliver 200,000 to 220,000 ounces of gold for the second half of 2018.”

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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