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Thieves make off with one-month's production from Argentine gold mine

Kitco Media
By Michael McCrae
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Updated
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(Kitco News) - Patagonia Gold (TSXV: PGDC) was robbed on Monday when thieves gained access to the company’s gold room at its Cap-Oeste project, located in the Santa Cruz province of Argentina.

The thieves gained access to the site and escaped with doré containing approximately 500 ounces of gold equivalent (AuEq), which represents approximately one month of production from Lomada and Cap-Oeste Projects. No employees were fatally injured during the robbery, although three suffered minor injuries. The robbery has been reported to the appropriate Argentine officials and the company is working with the authorities to investigate the incident.
The company has suspended production while it investigates the incident and determines how to implement additional security measures to reduce the likelihood of such an incident reoccurring in the future.

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Michael McCrae

Michael McCrae is leading Kitco's coverage of the mining sector. McCrae, who has both an MBA and CMA, knows how to build digital media properties. He was co-founder and publisher of MINING.com, an award-winning news site. Before coming to media, McCrae worked in IT and banking. Please reach out: mmccrae@kitco.com or (514) 670-1383. You can also follow him at @michaelmccrae.

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