Royal Gold: Sales Impacted By Mount Milligan Shutdown
Royal Gold, Inc. (NASDAQ: RGLD) reportsthe sale of approximately 57,000 gold-equivalent ounces in its fiscal firstquarter that ended on Sept. 30. This consisted of some 48,000 gold ounces,572,000 silver ounces and 380 tonnes of copper from streaming agreements. Thisis lower than in the prior quarter due to a temporary shutdown of operations atCenterra Gold’s Mount Milligan gold and copper mine. The company says it alsohad some 20,000 gold ounces, 545,000 silver ounces and 350 tonnes of copper ininventory as of Sept. 30. Average realized prices for the quarter were $1,221per gold ounce, $15.25 per silver ounce, and $5,800 per tonne ($2.63 per pound)of copper, respectively, compared to $1,314, $16.55, and $6,847 ($3.11 perpound) in the prior quarter. “As previously announced and anticipated, reducedsales were experienced during the first quarter from Mount Milligan due to thetemporary shutdown of the mill processing facility that occurred in earlycalendar 2018 resulting from a lack of sufficient water sources,” Royal Goldsays. On Sept. 14, Centerra reported that both ball mill circuits at MountMilligan had been operating from current water sources through the thirdcalendar quarter to that date, and that approval had been received for the useof certain short-term water sources through Nov. 15.
By Allen Sykoraof Kitco News; asykora@kitco.com
Kirkland Lake Reports Record Quarterly Gold Output
Monday October 9, 2018 08:37
Kirkland Lake Gold Ltd. (TSX, NYSE: KL) reports record quarterly gold production of 180,155ounces during the third quarter. This is a 30% increase from 139,091 ounces inthe third quarter of 2017 and a 9% increase from 164,685 ounces in the secondquarter of 2018. The company says output exceeded its targets, driven by recordquarterly production from Fosterville of 90,618 ounces as well as from Canadianoperations, with Macassa, Holt and Taylor collectively producing 89,537 ounces.Company-wide production during the first nine months of 2018 totaled 492,484ounces, with Kirkland saying it is positioned to achieve improved full-year2018 guidance of over 635,000 ounces. “At Fosterville, we commissioned a secondgravity circuit during Q3 2018 and saw an immediate spike in production, withthe Fosterville Mill processing over 18,000 ounces in the first week of thecircuit’s operation,” says Tony Makuch, president and chief executive officer.“This spike can largely be attributed to the gravity circuit’s effectiveness inrecovering gold previously contained in the recirculating load of the grindingcircuit. We also mined and processed our first Swan Zone stope during thequarter, which contributed over 7,500 ounces of production at an average gradeof close to 40 g/t [grams per tonne], in line with target levels.”
By Allen Sykoraof Kitco News; asykora@kitco.com
Pretium CEO: On Track ToMeet 2H Gold Guidance
Monday October 9, 2018 08:37
Pretium Resources Inc.(TSX, NYSE: PVG)reports that 92,641 ounces of gold were produced during the third quarter atthe company’s still-new Brucejack Mine in British Columbia. “We added $48million to our cash on hand during the third quarter, and are focused onsustaining long-term profitability,” says Joseph Ovsenek, president and chiefexecutive officer. “We are on our way to meeting our gold production guidanceof 200,000 to 220,000 ounces of gold for the second half of 2018.”
By Allen SykoraFor Kitco News
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