Fortuna Nudges Back Expected Start-Up Of Lindero Commercial Production
Fortuna Silver MinesInc. (NYSE: FSM; TSX: FVI) has pushed back the expected start ofcommercial production at the Lindero gold project in Argentina slightly, nowputting this at the end of the third quarter of 2019 instead of the beginning.This was brought about by changes in building and expansion of the camp,explains Jorge A. Ganoza, president, chief executiveofficer and director. The estimate of the initial capital cost of the projectis now forecast by the company to increase by 10% to 17%. As of the end of July, Fortuna had assignedpurchase orders and construction contracts totaling $131 million, or 71% of thetotal direct capital cost. With Lindero in its firstyear of full production, Fortuna says its consolidated precious-metals annualproduction is expected toincrease in 2020 to 190,000 ounces of gold and 9 million ounces of silver, or328,000 gold-equivalent2 ounces.
By Allen Sykoraof Kitco News; asykora@kitco.com
Hecla ReportsNew Mineralization, Integrates Nevada Properties
Tuesday August 7, 2018 08:30
Hecla Mining Co. (NYSE: HL) reports a number of discoveries atexisting mines as a result of drill program, plus plans to integrate Nevadaoperations after the recent acquisition of Klondex Mines Ltd. Hecla reports newand/or expanded mineralization at Casa Berardi, San Sebastian and Greens Creek.“The teams at Casa Berardi, Greens Creek and San Sebastian are discoveringhigh-grade material, both at surface and at depth,” says Phillips S. Baker,Jr., president and chief executive officer. “A new focus is our 110-square-mileland package in Nevada, where we are integrating the existing exploration teamand ramping-up drilling.” Hecla is scheduled to release its second-quarterfinancial results on Thursday. The company has already reported April-Juneproduction data, with silver output falling year-on-year to 2.6 million ouncesbut gold production rising to 60,313.
By Allen Sykoraof Kitco News; asykora@kitco.com
Condor GetsPermit For Gold Project In Nicaragua
Tuesday August 7, 2018 08:30
Condor Gold(AIM: CNR; TSX: COG) says it has received the necessary environmental permitto construct and operate a mine at its La India gold project in Nicaragua. Thepermit gives the OK for a 2,800-tonne-per-day processing plan. “Gold productionis expected to be approximately 80,000 ounces gold per annum from a single openpit, represents a $120 million investment and creates 1,000 new jobs,” saysMark Child, chairman and chief executive officer. The company must still submitfinal engineered designs for approval by authorities and complete a feasibilitystudy.
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.