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Alio Gold: Florida Canyon Mine Output To Rise In 2019

Kitco News

Alio Gold Inc.(TSX, NYSE AMERICAN: ALO) says an updated life-of-mine plan for the Florida Canyon Mine in Nevada portends a rise in 2019 output. The plan also shows total gold production of 734,000 ounces over a 9.8-year mine life. Proven and probable mineral reserves are put at 1.01 million ounces gold based on a pit designed to maximize project economics at $1,250-per-ounce gold. "This positive life-of-mine plan confirms the value of Florida Canyon that we saw when we acquired the mine last year," says Greg McCunn, chief executive officer. "The mine produced 47,400 ounces of gold in 2018 and the ramp-up progressed well over the fourth quarter. In 2019, we expect Florida Canyon to produce approximately 60,000 ounces of gold at a cash cost of approximately $1,000/oz.” The company looks for the mine to average 75,000 for the next eight years. “We expect to spend approximately $10 million in capital in 2019, including an expansion to the leach pad and key infrastructure around the crushing circuit to eliminate re-handling of the ore ahead of the crusher, which we expect will reduce operating costs,” the CEO says. “We anticipate needing to begin replacing our mining fleet in 2020.

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

 

Alamos Meets 2018 Gold-Production Guidance

Tuesday January 15, 2019 09:08

Alamos Gold Inc. (TSX, NYSE: AGI) reports record annual production of 505,000 ounces of gold in 2018, up 18% from the previous record in 2017, reflecting the inclusion of the Island Gold Mine for the full year. The total met guidance. “This was driven by strong performances from Mulatos and Island Gold, the latter setting a new record for production and continuing to demonstrate strong potential for growth in mineral reserves and resources,” says John A. McCluskey, president and chief executive officer. “We expect a similar rate of production in 2019 with lower costs driving stronger margins. Lower costs are expected to result from improvements at Young-Davidson and low-cost production growth at Island Gold.” Fourth-quarter output rose from the third to 125,600 ounces. The company says 2018 costs have not been finalized but are expected to be consistent with revised guidance. Alamos lists 2019 production guidance of 480,000 to 520,000 ounces of gold.

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

 

McEwen Mining: 2018 Gold Output Tops Guidance

Tuesday January 15, 2019 09:08

McEwen Mining Inc. (NYSE, TSX: MUX) reports that 2018 gold production topped guidance but silver output was below. The company lists 2018 gold output of 135,124 ounces, above guidance of 128,000 and up from 109,947 produced in 2017. However, fourth-quarter production fell to 29,291 ounces from 48,609 in the same period a year ago. Meanwhile, 2018 silver production came in around 3 million ounces, below guidance and 2017 output that were both around 3.2 million ounces. The silver tally for the fourth quarter fell to 819,473 ounces from 926,739 in the same period a year earlier. Full-year gold-equivalent production was 175,561 ounces, above guidance of 171,000 and 2017 output of 152,329. Meanwhile, McEwen said construction at the Gold Bar Mine in Nevada is near completion and on schedule for inaugural gold production in the first quarter.

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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