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Gran Colombia Hikes 2019 Gold-Output Guidance

Kitco News

(Kitco News) - Gran Colombia Gold Corp. (TSX: GCM) hiked its production guidance Thursday, now projecting 2019 output of 225,000 to 240,000 ounces of gold.

The company announced output in June was 18,882 ounces, bringing the total for the second quarter to 57,882 ounces, which was 9% over the second quarter of 2018. First-half production of 118,483 ounces was up 12% from the first half of last year.

The trailing 12 months of gold production at the end of June was 230,906 ounces, up 6% over 2018 production and above the top end of Gran Colombia’s initial guidance range for 2019 of between 210,000 and 225,000 ounces, officials said.

“In light of our first half results, we now feel confident in raising our annual production guidance for 2019 to between 225,000 and 240,000 ounces of gold,” said Lombardo Paredes, chief executive officer.

The Segovia operations produced 51,625 ounces in the second quarter, a year-on-year gain of 10%, the company said.

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