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Gran Colombia Gold Reports Record 1Q Output

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Gran Colombia Gold Corp. (TSX: GCM) says first-quarter gold output hit a quarterly record 60,601 ounces, up 15% over the first quarter of 2018. This brings the trailing 12 months of total gold production as of the end of March to 225,930 ounces, up 4% over 2018 output and at the top end of Gran Colombia’s 2019 guidance range of 210,000 to 225,000 ounces, the company says. “At our flagship Segovia operations, our investment in the expansion of our mines has increased our daily tonnes processed in the first quarter of 2019 from the company-operated areas by 11% compared with the annual average for 2018,” says Serafino Iacono, executive chairman. “The expansion of the Maria Dama plant to 1,500 tpd [tones per day] is on track for completion in the second quarter this year, so we will have additional capacity available to handle our expected near-term growth.” The CEO adds that first-quarter gold production also benefitted from higher grades at both the Providencia and El Silencio mines.

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

 

SSR Mining Posts Higher 1Q Output; Expects Full-Year Record

Thursday April 11, 2019 09:32

SSR Mining Inc. (NASDAQ, TSX: SSRM) reports production of over 112,000 gold-equivalent ounces in the first quarter, up from around 78,000 in the same period a year ago, with record quarterly gold output at Seabee of 31,183 gold ounces. The Seabee record was helped by the timing of gold pours at year-end and was aided by an increased mill throughput rate, SSR says. The company says silver production at its Puna operations doubled from the fourth quarter to 2.4 million ounces. “With all three operations performing well, we are positioned to achieve record production in 2019,” says Paul Benson, president and chief executive officer. Output at the Marigold mine declined 2% from the fourth quarter to 53,151 ounces of gold, but the company blames this mainly on weather conditions during the period.

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

 

Fresnillo, MAG Silver Boards OK Juanicipio Joint-Venture Project

Thursday April 11, 2019 09:32

Fresnillo Plc and MAG Silver Corp.’s (TSX, NYSE: MAG) Juanicipio gold-silver project, held through Minera Juanicipio, has received approval from their respective boards as well as from Minera Juanicipio shareholders, the companies report. Fresnillo will be the operator of Juanicipio and holds a 56% majority stake in the joint venture, with partner MAG Silver Corp. owning the remaining 44%. Construction will begin immediately, with completion expected in late 2020, subject to finalizing detailed engineering and securing remaining permits, the companies say. Average annual anticipated production is projected at 11.7 million silver ounces and 43,500 gold ounces, with an initial life of mine of 12 years.

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

 

Endeavour Silver: 1Q Output Declines; Improvement Expected

Thursday April 11, 2019 09:32

Endeavour Silver Corp. (TSX: EDR; NYSE: EXK) reports that first-quarter production at its four silver-gold mines in Mexico declined to 1,071,355 silver ounces and 10,055 gold ounces, resulting in silver-equivalent production of 1.9 million ounces at an 80:1 silver-gold ratio. The 21% lower silver production and 24% lower gold production, compared to the first quarter of 2018, were due to the planned reduction of mine output at El Cubo, lower-than-planned throughput at Bolanitos and lower silver grades at Guanacevi, the company says. “All four mines typically start slowly each year as we commence our annual capital investments, then production improves as the mines work toward achieving their annual mine plans,” says Bradford Cooke, chief executive officer. “At Guanacevi, the new Milache ore body is now producing 250 tonnes per day (tpd) of development ore, on its way to 400 tpd by the third quarter, and the new SCS ore body is being developed for production in H2, 2019. At Bolanitos, planning is under way to boost throughput in the second half. El Cubo is ahead of its plan for the year, with a focus on extending the mine life. The El Compas mine achieved commercial production in mid-March but only contributed two weeks of production during the first quarter, so it should help boost consolidated production in the coming quarters.”

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

 

Mandalay Resources: 1Q Output Up From 4Q, Down Year-On-Year

Thursday April 11, 2019 09:32

Mandalay Resources Corp. (TSX: MND) reports first-quarter production was up from recent quarters although down from the same period a year ago.  Output totaled 18,490 ounces of gold and 575 tonnes of antimony for 21,940 gold-equivalent ounces. This was up from 19,173 gold-equivalent ounces in the fourth quarter although down from 23,172 in the first quarter of 2018. “Mandalay’s consolidated production was a significant improvement on recent quarters, due in large part to a strong quarter at Björkdal, where trucking and haulage of higher-grade underground material returned to expected levels following the arrival of the entire underground haulage fleet,” says Dominic Duffy, president and chief executive officer. “Björkdal was also positively impacted by the mining of higher-grade underground ore, which is the successful result of our geology team’s primary focus of identifying higher-grade ore sources. We expect the higher production levels at Björkdal to remain stable for the remainder of 2019.” He adds that while Costerfield output was down from the previous quarter, development continued on the high-grade Youle lode, scheduled to be producing by year-end. Production was also ramping up on the Brunswick lode, which will be the primary source of Costerfield production over 2019, the company says.

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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