Newmont Completes Exodus Northwest Project In Nevada
Newmont Mining Corp. (NYSE: NEM) announces the completion ofthe Northwest Exodus project in Nevada. This should add between 50,000and 75,000 ounces of gold production per year and lower Carlin’s all-insustaining costs by approximately $25 per ounce during the first five years ofoperation, Newmont says. The underground infrastructure also provides explorationplatforms for potential future supply growth. Newmont says the project is expected to extend the mine life from the Exodusunderground operation in the Carlin North area for 10 years. Officials say theproject was completed ahead of schedule and within budget for $69 million.“Northwest Exodus leveragesfit-for-purpose technologies, existing infrastructure and higher-grade ore tolower costs, extend mine life and deliver an internal rate of return of morethan 40%,” says Tom Palmer, executive vice president and chief operatingofficer.
By Allen Sykoraof Kitco News; asykora@kitco.com
Guyana Goldfields Trims Guidance, Names New Mine Manager
Tuesday July 17, 2018 09:50
Guyana Goldfields Inc. (TSX: GUY) has trimmed its 2018production guidance and hired a new manager for the Aurora Gold Mine. Auroraprovided 28,250 poured ounces and 31,300 recovered ounces in the secondquarter. Scott A. Caldwell, president and chief executive officer, reports thatsecond-quarter mining was adversely impacted by the late arrival of an expandedhaulage fleet and a later-than-planned mobilization of the contractor. “Theequipment and contractors are now on site and production during the second halfof 2018 will increase; however, this will not be able to make up the shortfallin production by year end and therefore we are revising guidance,” he says. “Weare adjusting our 2018 annual production and cost guidance to 175,000-185,000ounces of gold (from 190,000-210,000 ounces) and [the] all-in sustaining costto $945-$995 per ounce (from $830-$880 per ounce).” He adds that the mill isperforming “exceedingly well” following completion of the first phase of anexpansion, with both throughput and recoveries above budgeted levels. Thecompany also reports that Brennan Lang will become the new general manager ofthe Aurora Gold Mine at the end of July. The company describes him as aprofessional mining engineer with over 30 years diversified experience atopen-pit and underground gold mines in Canada, the U.S., South America and theAsia-Pacific region.
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.