(Kitco News) - On Thursday, Latin America-focused gold miner GCM Mining (TSX: GCM) announced that its Segovia Operations in Colombia produced 18,507 ounces of gold in May 2022, up from 17,936 ounces mined in May last year.
The company said that the total gold production for the first five months of 2022 is 86,779 ounces, up from 84,467 ounces in the first five months last year, adding that its trailing 12-months’ total gold production at the end of May 2022 was 208,701 ounces, up about 1% over 2021.
The company’s payable production from the concentrates in May 2022 is estimated to total approximately 114,000 pounds of zinc, 124,000 pounds of lead, 9,500 ounces of silver and less than 50 ounces of gold.
Importantly, GCM Mining noted that expansion of the company’s processing plant at Segovia to 2,000 tonnes per day is nearing completion and is expected to be finished in July.
The company also said it is on track to meet its annual production guidance for 2022 of between 210,000 and 225,000 ounces of gold.
In addition, GCM Mining announced today that its Board of Directors has declared the next monthly dividend of CA$0.015 per common share will be paid on July 15, 2022 to shareholders of record as of the close of business on June 30, 2022.
GCM Mining is a mid-tier gold producer focused on mine building and operating in Latin America. In Colombia, the company is a leading high-grade underground gold and silver producer with several mines in operation at its Segovia Operations.
In Guyana, the company is advancing its fully funded Toroparu Project, one of the largest undeveloped gold/copper projects in the Americas, which is expected to commence production of more than 200,000 ounces of gold annually in 2024.
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