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Alacer Achieves 2018 Output Guidance, Beats Cost Guidance

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Alacer Gold Corp. (TSX: ASR; ASX: AQG) says it achieved production guidance and beat guidance for all-in sustaining costs during 2018. The company’s flagship asset is the Çöpler Gold Mine in Turkey. “We had a productive last quarter, which resulted in us producing 170,865 ounces of gold in 2018 at unaudited all-in sustaining costs of $615 per oxide ounce,” says Rod Antal, president and chief executive officer. “Last year’s gold production represented a key milestone for the company as it included the first production from the newly constructed sulfide plant. The performance of the sulfide plant continues to meet our expectations. After the initial gold inventory build in the sulfide plant, 21,916 ounces were poured in December, which was the first full month of sulfide plant operations.”

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

 

Endeavour Silver: Output Rises From 2017 But Below Guidance

Thursday January 10, 2019 09:04

Endeavour Silver Corp. (TSX: EDR, NYSE: EXK) says 2018 production at its three mines in Mexico was higher than 2017 although below guidance. Production in 2018 rose 7% due to higher mine output, silver and gold grades and recoveries at the El Cubo Mine. However, a 7% production shortfall in 2018 compared to guidance was due to lower mine output and silver grades at Guanaceví, lower gold grades at Bolañitos and delays in achieving commercial production at El Compas, Endeavour says. Endeavour lists 2018 production of 5.5 million ounces silver and 52,967 ounces of gold for silver-equivalent production of 9.5 million ounces at a 75:1 silver- gold ratio. Silver production in the fourth quarter was 1,386,505 ounces. Coupled with gold output of 13,117, silver-equivalent production totaled 2.4 million ounces.

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

 

Iamgold Exploration At Nelligan Unearths ‘Encouraging Results’

Thursday January 10, 2019 8:46

Officials with Iamgold Corp. (TSX: IMG; NYSE: IAG) say they are encouraged by 2018 drilling results from the Nelligan joint-venture project in Quebec. The company holds a 51% share, while Vanstar Mining Resources Inc. has the other 49%. One drill hole found 5.69 grams per tonne of gold over 27.8 meters, while another came up with 3.59 g/t over 42.1 meters. There were also discoveries in a number of other drill holes. “The 2018 drilling program has delivered encouraging results in all the drill holes completed this year, confirming and extending the wide zones of alteration and associated mineralization identified from previous programs,” says Craig MacDougall, senior vice president for exploration. “Four mineralized zones were outlined through the recent drilling campaigns, the most significant to date being the Renard system, and all zones remain open for potential extensions. These results will be used to refine a preliminary deposit model to help guide future drilling campaigns and support the completion of an initial resource estimate planned in the coming months.” Further drilling is planned in 2019.

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

 

Pretium: Brucejack Mine Output Nearly Matches Guidance

Thursday January 10, 2019 8:46

Pretium Resources Inc. (TSX, NYSE: PVG) says 2018 full-year output at the company’s Brucejack Mine in British Columbia was close to guidance. Commercial output began in July 2017, with ramp-up continuing into 2018. Full-year output was 376,012 ounces, which the company says was 97% of guidance of 387,000 ounces. Fourth-quarter output was 96,342 ounces. During the fourth quarter, the company repurchased a construction financing 8% precious-metals stream for $237 million and also closed a $480 million bank debt facility to a refinance construction credit facility. “We ended 2018 on a successful note with the closing of the bank debt facility, repurchase of our precious-metals stream, payout of our construction credit facility, receipt of amended permits to increase production to 3,800 tonnes per day and production of over 376,000 ounces of gold, all in our first calendar year of production, which included six months of ramp-up,” says Joseph Ovsenek, president and chief executive officer.

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

 

Torex Sees Increased Gold Sales For 2019

Thursday January 10, 2019 8:46

Torex Gold Resources Inc. (TSX: TXG) looks for the amount of gold it sells to rise in 2019. Torex reports that 354,000 ounces of gold were produced and 348,000 sold in 2018, a record year at its ELG Complex located in Mexico. Fred Stanford, president and chief executive officer, says output was at the top end of guidance. Guidance for 2019 projects sales of 430,000 ounces, with all-in sustaining costs projected at $790 an ounce.

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

 

Dundee Exceeds 2018 Gold-Output Guidance

Thursday January 10, 2019 8:46

Dundee Precious Metals Inc. (TSX: DPM) says it exceeded gold-production guidance for 2018.  The Chelopech mine posted record gold production of 45,800 ounces in the fourth quarter and 201,100 for the full year, topping the guidance range of 190,000 to 200,000. Copper output was 8.6 million pounds in the fourth quarter and 36.7 million for the year, within full-year guidance of 33.7 million to 40.4 million pounds. “Chelopech exceeded expectations for the year, and Tsumeb continued to ramp up throughput delivering strong performance,” says Rick Howes, president and chief executive officer.  “With Krumovgrad on budget and ready to commence concentrate production during the first quarter of 2019, DPM is expected to deliver significant growth in gold production and free cash flow.”

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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