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Great Panther Silver: 3Q Output Falls; Still On Track To Meet Guidance

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Great Panther Silver Ltd. (TSX: GPR; NYSE American: GPL) reports output from its two Mexican mines declined in the third quarter compared to a year ago, although the company remains track to meet its full-year output guidance.  Silver production decreased 16% year-on-year to 448,840 ounces, while gold production fell 19% to 4,737 ounces. However, lead and zinc production increased 29% and 14%, respectively. Consolidated metal production decreased 5% to 1,023,128 silver-equivalent ounces. “We remain on track to meet our production guidance for 2018 with good year-to-date production performance…,” says James Bannantine, president and chief executive officer. “Given the sustained low metal price environment, we adjusted our mine plan in the third quarter to exercise the flexibility between our mines and plant to reduce mining of higher cost stopes at the Guanajuato Mine. This was a factor accounting for the relative decline in silver and gold production in the third quarter, along with lower grades and recoveries at the GMC [Guanajuato Mine Complex] and a particularly strong quarter of production for Q3 of 2017.”

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

 

B2Gold Reports Record Quarterly Output

Friday October 12, 2018 08:35

With the new large Fekola Mine in Mali now in full production, B2Gold Corp. (TSX: BTO, NYSE American: BTG, NSX: B2G) says consolidated gold production in the third quarter was a quarterly record of 242,040 ounces, a rise of 78% (106,412 ounces) over the same period last year and in line with company expectations. Fekola, which reached commercial production at the end of November, turned out 107,002 ounces of gold. In addition, the Masbate Mine in the Philippines produced 57,542 ounces of gold, its second-highest quarterly production ever, which was 29% (12,845 ounces) above budget and 24% (10,985 ounces) higher than the third quarter of 2017, B2Gold says. B2Gold says the company “remains well on target to achieve transformational growth in 2018. For full-year 2018, with the planned first full-year of production from the Fekola Mine, consolidated gold production is forecast to be at the upper end of the company’s guidance range of between 920,000 and 960,000 ounces.” This would be a yearly increase of some 300,000 ounces.  All-in sustaining costs are expected to decrease by approximately 6% from 2017 to between $780 and $830 per ounce. Consolidated gold revenue in the third quarter was $324 million on record quarterly sales of 268,527 ounces at an average price of $1,206 each, compared to $154 million on sales of 121,597 ounces at an average price of $1,267 in the third quarter of 2017, B2Gold adds.

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

 

SSR Reports Output Records At Mining Operations

Friday October 12, 2018 08:35

SSR Mining Inc. (NASDAQ, TSX: SSRM) reports that the Marigold and Seabee mines both set production records in the third quarter. Marigold produced 58,459 ounces of gold, an 18% increase compared to the second quarter. Seabee churned out 27,831 ounces of gold from a higher ore feed grade of 9.52 grams per tonne gold, representing quarterly increases of 18% and 20%, respectively. “We delivered our strongest quarter of the year with consolidated gold-equivalent production of nearly 95,000 ounces, breaking records at Marigold and Seabee while continuing to optimize production and advancing the Chinchillas project at Puna operations,” says Paul Benson, president and chief executive officer. “With all three operations performing well, we look forward to meeting or exceeding annual guidance for the seventh consecutive year.”

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

 

McEwen Mining Lists Higher 3Q Production

Friday October 12, 2018 08:35

McEwen Mining Inc. (NYSE, TSX: MUX) reports a year-on-year rise in consolidated gold-equivalent production in the third quarter. The company, which acquired the Black Fox Mine in October 2017, lists July-September output of 33,806 gold ounces, up from 19,051 a year ago. McEwen Mining also lists 745,172 silver ounces, down slightly from 749,749 in the year-ago period. Based on a 75-to-1 gold-silver ratio, gold-equivalent output rose to 43,742 ounces from 29,047. The company’s Black Fox mine provided 11,618 gold-equivalent ounces in the third quarter. Meanwhile, the company says construction is on schedule for its Gold Bar project in Nevada, with 97 of contracts awarded. During the first three years of operation starting next year, Gold Bar is projected to produce 55,000, 74,000 and 68,000 ounces of gold, respectively.

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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