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Victoria Gold says its FY22 operating results below expectations due to a conveyor belt failure

Kitco Media
By Vladimir Basov
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(Kitco News) - Victoria Gold (TSXV: GCX) reported today that the company produced 43,741 ounces gold in Q4 2022, with full year 2022 production of 150,182 ounces, which is a decrease of 9% compared to 2021 (164,222 ounces).

The company said its fourth quarter and full year 2022 operating results were below expectations as mechanical availability of the crushing and conveying circuit was lower than anticipated.

“The primary reason for the lower mechanical availability was the failure of the belt on the overland conveyor late in Q3 resulting in almost three weeks of downtime and lower year-over-year gold production,” commented CEO John McConnell. “Looking forward, we have significantly improved our operational and maintenance staffing and protocols and expect to achieve materially higher gold production in 2023.”

Victoria Gold's 100%-owned Dublin Gulch gold property is situated in central Yukon Territory, Canada, approximately 375 kilometers north of the capital city of Whitehorse.

The property covers an area of approximately 555 square kilometers, and is the site of the company's Eagle and Olive gold deposits. The Eagle gold mine is Yukon's newest operating gold mine.

Calibre Mining boasts record 2022 production of 222 koz of gold, expects further growth in 2023
Kitco Media

Vladimir Basov

Vladimir (PhD, MEng in Mining) is a professional mining engineer, scientist and analyst that has more than 20 years of practical in-field and research experience. He is particularly interested in collecting, processing baseline data and writing insightful data-driven mining industry analytics, articles, statistical and research reports.

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