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Endeavour Mining: Ity Gold Project Two Months Ahead Of Schedule

Kitco News

Endeavour Mining Corp. (TSX: EDV) reports that construction of its Ity carbon-in-leach project in CĂ´te d'Ivoire is two months ahead of schedule and on budget. The first gold pour is now expected to occur early in the second quarter of 2019, rather than mid-year as previously planned. “Completing the construction sooner is expected to result in material improvement to our 2019 free-cash-flow generation potential as Ity CIL will be a low-cost operation with AISC [all-in sustaining costs] expected to be below $500/oz over its first five years,” says SĂ©bastien de Montessus, president and chief executive officer. The project is more than 75% completed, with nearly all of the $412 million initial capital cost committed, Endeavour says.

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

 

Asanko Gold 3Q Output Rises From 2Q, On Track To Meet Guidance

Wednesday October 17, 2018 08:35

Asanko Gold Inc. (TSX, NYSE American: AKG) reports that output at the Asanko Gold Mine in Ghana hit a quarterly record of 61,599 ounces in the third quarter, up from 53,501 ounces in the second quarter. The July-September tally left the company tracking the higher end of guidance of 110,000 to 120,000 ounces for the second half of the year. “The mine is well positioned to meet full-year gold production guidance of 200-220,000 ounces,” says Peter Breese, president and chief executive officer. Quarterly gold sales of 65,267 ounces generated $78.2 million in gold revenue at an average realized price of $1,198 per ounce. The Asanko Gold Mine is a 50-50 joint venture with Gold Fields Ltd. (JSE, NYSE: GFI) but is managed and operated by Asanko.

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

 

Roxgold Output Rises, On Pace For Upper End Of Guidance

Wednesday October 17, 2018 08:35

Roxgold Inc. (TSX: ROXG) reports that third-quarter production at the Yaramoko Gold Mine in Burkina Faso came in at 30,532 ounces, driven by record quarterly processing throughput of 78,357 tonnes, which was 15% above nameplate capacity. The gold output was up from 28,410 ounces in the same quarter a year ago. Production of 106,812 ounces for the first nine months of the year is "positioning us well to meet the upper-end of our 2018 guidance range of producing between 120,000 to 130,000 ounces," says John Dorward, president and chief executive officer.  “Our Bagassi South expansion project continues to make excellent progress as both the construction of the process plant expansion and mine development at Bagassi South, our second high-grade underground gold mine, continue to be on schedule, with first ore expected by the end of the year.”

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

 

Premier: Mercedes Output Up 26% From Second Quarter

Wednesday October 17, 2018 08:35

Premier Gold Mines Ltd. (TSX: PG) reports consolidated third-quarter output of 20,100 gold ounces and 89,512 silver ounces. The bulk of the production came from the Mercedes Mine, which churned out 17,465 ounces of gold, a 26% increase over the second quarter. Output at this mine is weighted toward the second half of the year, the company says. “Overall gold production during the third quarter met expectations with additional ore being processed from stockpiles at the low-cost South Arturo mine,” says John Begeman, executive chairman of Premier. “In addition, development and construction commenced on the next two production phases at South Arturo -- the Phase 1 open pit and the El Nino underground mine.”

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

 

Board Member Becomes Interim CEO Of First Mining

Wednesday October 17, 2018 08:35

First Mining Gold Corp. (TSX: FF; FSE: FMG) announces the departure of Jeff Swinoga as president and chief executive officer. Board member David Shaw has been appointed as interim CEO while the board begins a formal search for a new CEO. First Mining is an emerging development company with a resource base of 7 million ounces of gold in the measured and indicated categories and 5 million ounces in the inferred category, with all of this in eastern Canada. In all, the company has a portfolio of 24 mineral assets in Canada, Mexico and the United States.

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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