Make Kitco Your Homepage

Eldorado Looks For Higher Gold Output In 2019

Kitco News

Eldorado Gold Corp. (TSX: ELD; NYSE: EGO) looks for gold production to rise in 2019 and also says it will resume mining, crushing, stacking and heap leaching at its Kisladag gold mine in Turkey. A previously announced mill project there has been suspended, the company says. “The decision to restart mining and heap leaching at Kisladag is supported by improved heap-leach recoveries and confirmed by a revised heap-leaching plan developed in early 2019,” says George Burns, president and chief executive officer. “The revised heap-leaching plan results in favorable economics when compared to milling, without the risks associated with the construction and financing of a $500 million project.” The company says gold-production guidance of 390,000 to 420,000 ounces in 2019 is expected from Kisladag, Lamaque, Efemcukuru and Olympias, with higher consolidated output in the second half of the year. This is up from 349,147 ounces in 2018. As mining and heap leaching at Kisladag ramps up, consolidated gold production is expected to increase to 520,000 to 550,000 ounces in 2020, before decreasing to 350,000 to 380,000 ounces in 2021, Eldorado says. The company adds that guidance at Kisladag will be updated later in 2019. “Beyond completing remaining construction at Lamaque, Eldorado has no major capital projects under way and will remain focused on existing operations in order to realize the full potential from these assets,” Burns adds.

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

 

Iamgold Reports Increased Resources At Diakha-Siribaya Project

Thursday January 31, 2019 08:03

Iamgold Corp. (TSX: IMG; NYSE: IAG) says resources increased by 57% at the Diakha-Siribaya gold project in Mali. The estimate of mineral resources is comprised of 18 million tonnes of indicated resources averaging 1.28 grams of gold per tonne for 744,000 ounces and 23.2 million tonnes of inferred resources averaging 1.58 grams g/t for 1.2 million ounces. “Our delineation drilling program completed over the last two years has not only resulted in a significant increase in resource ounces, but a substantial conversion of inferred resources to an indicated category,” says Craig MacDougall, senior vice president for exploration. “Our exploration success at Diakha, coupled with the recently announced results of our feasibility study across the border at our nearby Boto gold project in Senegal, continues to demonstrate the exploration upside of our very prospective land holdings in this region of West Africa.”

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.

Precious Metal Charts

Follow Kitco News