Great Panther Silver: 3Q Output Falls; Still On Track To Meet Guidance
Great PantherSilver Ltd. (TSX: GPR; NYSE American: GPL) reports output from its two Mexicanmines declined in the third quarter compared to a year ago, although thecompany remains track to meet its full-year output guidance. Silver production decreased 16% year-on-yearto 448,840 ounces, while gold production fell 19% to 4,737 ounces. However,lead and zinc production increased 29% and 14%, respectively. Consolidatedmetal production decreased 5% to 1,023,128 silver-equivalent ounces. “We remainon track to meet our production guidance for 2018 with good year-to-dateproduction performance...,” says James Bannantine, president and chief executiveofficer. “Given the sustained low metal price environment, we adjusted our mineplan in the third quarter to exercise the flexibility between our mines andplant to reduce mining of higher cost stopes at the Guanajuato Mine. This was afactor accounting for the relative decline in silver and gold production in thethird quarter, along with lower grades and recoveries at the GMC [GuanajuatoMine Complex] and a particularly strong quarter of production for Q3 of 2017.”
By Allen Sykoraof Kitco News; asykora@kitco.com
B2Gold Reports Record Quarterly Output
Friday October 12, 2018 08:35
With the newlarge Fekola Mine in Mali now in full production, B2Gold Corp. (TSX: BTO, NYSEAmerican: BTG, NSX: B2G) says consolidated gold production in the third quarterwas a quarterly record of 242,040 ounces, a rise of 78% (106,412 ounces) overthe same period last year and in line with company expectations. Fekola, whichreached commercial production at the end of November, turned out 107,002 ouncesof gold. In addition, the Masbate Mine in the Philippines produced 57,542ounces of gold, its second-highest quarterly production ever, which was 29%(12,845 ounces) above budget and 24% (10,985 ounces) higher than the thirdquarter of 2017, B2Gold says. B2Gold says the company “remains well on targetto achieve transformational growth in 2018. For full-year 2018, with theplanned first full-year of production from the Fekola Mine, consolidated goldproduction is forecast to be at the upper end of the company’s guidance rangeof between 920,000 and 960,000 ounces.” This would be a yearly increase of some300,000 ounces. All-in sustaining costs are expected to decrease byapproximately 6% from 2017 to between $780 and $830 per ounce. Consolidatedgold revenue in the third quarter was $324 million on record quarterly sales of268,527 ounces at an average price of $1,206 each, compared to $154 million onsales of 121,597 ounces at an average price of $1,267 in the third quarter of2017, B2Gold adds.
By Allen Sykoraof Kitco News; asykora@kitco.com
SSR ReportsOutput Records At Mining Operations
Friday October 12, 2018 08:35
SSR MiningInc. (NASDAQ, TSX: SSRM) reports that the Marigold and Seabee mines both setproduction records in the third quarter. Marigold produced 58,459 ounces ofgold, an 18% increase compared to the second quarter. Seabee churned out 27,831ounces of gold from a higher ore feed grade of 9.52 grams per tonne gold, representingquarterly increases of 18% and 20%, respectively. “We delivered our strongestquarter of the year with consolidated gold-equivalent production of nearly95,000 ounces, breaking records at Marigold and Seabee while continuing tooptimize production and advancing the Chinchillas project at Puna operations,”says Paul Benson, president and chief executive officer. “With all threeoperations performing well, we look forward to meeting or exceeding annualguidance for the seventh consecutive year.”
By Allen Sykoraof Kitco News; asykora@kitco.com
McEwenMining Lists Higher 3Q Production
Friday October 12, 2018 08:35
McEwen Mining Inc. (NYSE, TSX: MUX) reports a year-on-year rise in consolidated gold-equivalentproduction in the third quarter. The company, which acquired the Black Fox Minein October 2017, lists July-September output of 33,806 goldounces, up from 19,051 a year ago. McEwen Mining also lists 745,172 silverounces, down slightly from 749,749 in the year-ago period. Based on a 75-to-1gold-silver ratio, gold-equivalent output rose to 43,742 ouncesfrom 29,047. The company’s Black Fox mine provided 11,618 gold-equivalentounces in the third quarter. Meanwhile, the company says construction is onschedule for its Gold Bar project in Nevada, with 97 of contracts awarded.During the first three years of operation starting next year, Gold Bar isprojected to produce 55,000, 74,000 and 68,000 ouncesof gold, respectively.
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. |