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Elevation Gold reports production drop

Kitco News

For the quarter ended September 30, 2021, Elevation Gold (TSXV:ELVT) said today it had gold equivalent production of 7,209 ounces, down from the preceding quarter when it reported 7,823 gold equivalent ounces.

Elevation Gold has operations in Arizona and Nevada.

The company reported revenue of $12.1 million, and earnings from mine operations of $2.9 million before depreciation and depletion.

During the same September quarter from a year ago Elevation Gold reported production of 14,673 gold equivalent ounces, and revenue was $26.8 million.

"The ramp-up of the 3A Heap Leach Pad now allows the mining team to focus on pre-stripping the south wall of the East pit to allow for higher grade material to be mined in Q1 2022," said Michael G. Allen, President of Elevation Gold. "In addition, the crusher team has been focusing on improving operational efficiencies to increase throughput in alignment with higher grade material being mined."

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