Yamana Gold 2018 Output Tops Guidance
Yamana Gold Inc. (TSX: YRI; NYSE: AUY) says production in 2018 topped guidance, while costs were in line with its expectations. Gold-equivalent output for the full year was 1.04 million ounces, compared to guidance of 1.01 million. This included 940,600 ounces of gold and 8 million ounces of silver. Fourth-quarter output was 310,400 gold-equivalent ounces. The company also produced 129 million pounds of copper in 2018, topping guidance of 125 million. Fourth-quarter copper output was 39 million pounds. “Production for all metals was delivered at costs in line with or better than guidance for the full year,” Yamana said, adding that more detailed cost data will be included when it releases financial results for the fourth quarter, scheduled for Feb. 14. Further, Yamana says it will adopt the World Gold Council’s standard for “all-in sustaining costs” for all reporting periods starting this year.
By Allen Sykora of Kitco News; firstname.lastname@example.org
Guyana Goldfields 2018 Output Within Guidance
Monday January 14, 2019 10:16
Guyana Goldfields Inc. (TSX: GUY) says 2018 full-year gold output was 150,450 ounces, which was its revised 2018 guidance. Fourth-quarter production of 42,750 ounces was the company’s third-best quarter ever, officials say. The mining rate averaged 69,200 tonnes per day in the fourth quarter, a new record and close to double the tonnage moved in the first quarter, officials say. The company says it expects first-quarter gold production to be in line with the fourth quarter. The company plans to announce full-year 2019 guidance when it releases financial results on March 26. "We had a strong finish to 2018 despite the challenges we faced," says Scott A. Caldwell, president and chief executive officer. “Not only did we achieve a record mining rate in the fourth quarter, but our mill enhancements delivered throughput levels well ahead of design with gold recovery averaging over 2.0% higher than in 2017. Our mining contractor, Stratcon, reached its stride putting us in a much stronger position in terms of waste stripping."