Centamin 2018 Gold Production Declines
Centamin PLC (LSE: CEY; TSX: CEE) reports that full-year 2018 output at its flagship Sukari Gold Mine in Egypt fell 13% to 472,418 ounces. Fourth-quarter output was 137,600 ounces, a 17% improvement on the previous quarter due to higher grades but down 11% from 154,298 in the same period a year ago. The company lists a number of operational challenges during 2018, including lower grades delivered from the open pit in the first half of the year; a disruption to the underground stoping sequence in the second quarter, resulting from a damaged rig; and unplanned dilution from the cascading stopes in the Amun underground. “Concluding an operationally challenging year, the fourth quarter delivered further improvement in the grade from both the open pit and the underground stoping, whilst underground development focused on longer-term production access,” says Andrew Pardey, chief executive officer.
By Allen Sykora of Kitco News; email@example.com
Equinox Looks For Jump In Gold Output In 2019
Wednesday January 9, 2019 08:28
Equinox Gold Corp. (TSXV: EQX) looks for a big increase in gold output this year. The company says it produced approximately 26,000 ounces in 2018 from its recently acquired Mesquite Mine in California, and expects output of 230,000 to 265,000 ounces in 2019 from Mesquite and its Aurizona Mine in Brazil at all-in sustaining costs $900 to $950 an ounce. Aurizona is expected to be ready for commercial production around the end of the first quarter. “Equinox Gold has achieved tremendous growth over the last year and will soon become a multi-mine gold producer,” says Christian Milau, chief executive officer. “This momentum will continue in 2019 as we plan for construction at our Castle Mountain Mine, capitalize on growth opportunities at our existing assets and continue to assess accretive acquisition opportunities.”