Yamana Tops 2017 Output Guidance For Gold, Copper
Yamana Gold Inc. (TSX: YRI; NYSE: AUY) says it topped guidance forgold and copper output in 2017. The company lists fourth-quarter preliminaryoutput of 259,000 ounces of gold, 1.17 million ounces of silver and 34 millionpounds of copper. For the full year, output included 977,000 ounces of gold, toppingguidance of 960,000; 5 million ounces of silver, roughly matching guidance; and127 million pounds of copper, topping guidance of 125 million. “Full-year production for both gold andcopper exceeded the higher guidance levels set in October, which, for gold, wasthe second increase of the year,” Yamana says. Meanwhile, the company saysconstruction of Cerro Moro in Argentina is on time and on budget. Yamana saysit anticipates achieving commercial production before mid-year.
By Allen Sykoraof Kitco News; asykora@kitco.com
Kirkland Lake:All Mines Achieve Record Output In 2017
Thursday January 11, 2018 09:24
Kirkland LakeGold Ltd. (TSX: KL;NYSE: KL;ASE: KLA) reports record output for 2017 as all of the company’s operatingmines also posted records. Consolidated 2017 production of 596,405 ounces beatimproved guidance of 580,000 to 595,000 ounces. Record full-year production atall operating mines included including 263,845 ounces at Fosterville, 194,237ounces at Macassa, 66,677 ounces at Holt and 50,764 ounces at Taylor, KirklandLake says. Consolidated production in fourth quarter totaled a quarterly record166,579 ounces, a 9% increase from the same period a year earlier and 20%higher than the third quarter. “Particularly encouraging was our strong finishto the year, with Q4 2017 being our best quarter ever for production,” saysTony Makuch, president and chief executive officer. “Leading the way wasFosterville, where full-year production increased 74% from the previous year,and record fourth-quarter results reflected an average grade of 21.5 g/t [gramsper tonne], by far the highest quarterly average ever achieved by the mine.Over the last year, Fosterville has joined our Macassa mine as one of theworld’s highest-grade gold producers, with mineral reserve ounces and theaverage reserve grade more than doubling and annual production capacityincreasing to over a quarter million ounces per year, with more growth tocome.”
By Allen Sykoraof Kitco News; asykora@kitco.com
Golden StarMeets Guidance, To Focus On High-Margin Ounces In 2018
Thursday January 11, 2018 09:24
Golden StarResources (NYSEAmerican: GSS;TSX: GSC;GSE: GSR) says it achieved production guidance for 2017. Officials list a 38%increase in consolidated gold production in to 267,565 ounces, plus a 34% year-on-year increase in thefourth quarter to 71,769 ounces. The company lists 2018 guidance of 230,000 to255,000 ounces, with plans to focus higher-margin ore. However, operating costsare expected to decline, Golden Star says. Consolidated all-in sustainingcosts per ounce are expected to be 7% to 17% lower than the midpoint ofthe 2017 guidance range, putting them at $850 to $950. “I'm particularlypleased to see the strong results from Wassa Underground in the fourth quarterof 2017, including a 55% increase in grade compared to the third quarter, and Ilook forward to stronger production in 2018 as we increase the mining ratefurther,” says Sam Coetzer, president and chief executive officer. “In 2018 ourprimary focus will be high-grade, high-margin underground ounces. Althoughproduction in 2018 is anticipated to be lower than in 2017, our operating costguidance is also significantly reduced and thus we believe this strategydelivers the best value for all of our stakeholders.”
By Allen Sykoraof Kitco News; asykora@kitco.com
B2Gold Anticipates Shattering 2017 Output Record In 2018
Thursday January 11, 2018 08:46
B2Gold Corp.(TSX: BTO,NYSE: BTG,NSX: B2G) reports record gold production in the fourth quarter and full-year2017, plus the company expects significantly higher output in 2018 due to itsnew Fekola Mine. The company says it achieved record annual gold production forthe ninth consecutive year at 630,565 ounces, which includes 79,243 ounces ofpre-commercial production from Fekola. The total exceeds the upper end of therevised guidance range of 580,000 to 625,000 ounces. For the fourth quarter,B2Gold’s consolidated output was a quarterly record 240,753 ounces, including72,903 ounces of pre-commercial production from Fekola, with the totalexceeding revised guidance by 5% and up 71% over the same period in 2016. TheFekola Mine achieved commercial production ahead of schedule on Nov. 30. Withthe planned first full year of production from Fekola, the company’s 2018outlook calls for “dramatic production growth of approximately 300,000 ouncesversus 2017, as consolidated annual gold production is expected to increasesignificantly to between 910,000 and 950,000 ounces.” B2Gold lists projectedcash operating costs and all-in sustaining costs of between $505 and $550 perounce and between $780 and $830 per ounce, respectively.
By Allen Sykoraof Kitco News; asykora@kitco.com
Alamos GoldLists Record Quarterly, Annual Production
Thursday January 11, 2018 08:46
Alamos GoldInc. (TSX: AGI;NYSE: AGI)lists record gold output for the fourth quarter and 2017. Alamos produced120,300 ounces in the fourth quarter, including a record 56,500 ounces from theYoung-Davidson Mine. Consolidated quarterly output was up from 105,676 ouncesin the same period a year ago, while full-year output was up 10%. “With recordfourth-quarter gold production, Alamos achieved a new annual record, producing429,400 ounces of gold, while delivering a significant reduction in operatingcosts and capital spending. This translated into strong free cash flow growthfrom our operations,” says John A. McCluskey, president and chief executiveofficer. This includes approximately one month of production from the IslandGold Mine following completion of the acquisition. Excluding Island Gold, thecompany produced 420,400 ounces, above the mid-point of guidance. “Wesignificantly improved our outlook over the past year,” McCluskey says.Production guidance for 2018 was put at 480,000 to 520,000 ounces of gold, a16% increase over 2017 (based on the mid-point of guidance), reflecting theinclusion of Island Gold. All-in sustaining costs are seen creeping up slightlyto $950 an ounce.
By Allen Sykoraof Kitco News; asykora@kitco.com
Centerra GoldReceives Pastureland Permit For ?-ks? 1/4 t Project
Thursday January 11, 2018 08:46
Centerra GoldInc. (TSX: CG)says that its Turkish subsidiary has received approval of a “pasturelandpermit” for the ?-ks? 1/4 t project in Turkey. The company has also received noticefrom the Kayseri Directorate of Food, Agriculture and Livestock for payment ofthe necessary “grass fee” of approximately $4 million and a refundable depositto the Directorate to begin the land-delivery process that converts thepastureland to industrial usage land. The land-delivery process is expected totake up to 45 days. “?-ks? 1/4 t is expected to be another of the company’s low-costoperating sites, and the completion of the permitting process has now paved theway for the project’s future development,” says Scott Perry, chief executiveofficer of Centerra. Construction of the project is subject to board approval,which the company suggests may occur in late February.
By Allen SykoraFor Kitco News
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asykora@kitco.com Disclaimer: The views expressed in this article are those of the author and may not reflect those of Kitco Metals Inc. The author has made every effort to ensure accuracy of information provided; however, neither Kitco Metals Inc. nor the author can guarantee such accuracy. This article is strictly for informational purposes only. It is not a solicitation to make any exchange in commodities, securities or other financial instruments. Kitco Metals Inc. and the author of this article do not accept culpability for losses and/ or damages arising from the use of this publication.