Yamana Reports First Gold, Silver Pour At Cerro Moro
YamanaGold Inc. (TSX: YRI; NYSE: AUY) announces that the first pour of gold andsilver dor?(C) at Cerro Moro occurred on Tuesday. Cerro Moro is ahigh-grade gold and silver operation sourcing ore from a combination ofunderground and open-pit mining in Argentina. The ramp-up remains on track,with commercial production expected in the second quarter, Yamana says.Guidance is for output of 85,000 gold ounces and 3.75 million silver ouncesthis year, followed by 125,000 gold ounces and 6 million silver ounces in 2019.
By Allen Sykoraof Kitco News; asykora@kitco.com
Roxgold Lists 1Q Profit, Record Output; Guidance Hiked
Wednesday May 14, 2018 09:07
Roxgold Inc. (TSX: ROXG) reports a first-quarter profit onrecord production of 40,452 ounces of gold,up from 35,594 in the same period a year ago. Officials also hiked outputguidance for the current year. Net income for the three-month period ended March31 came to $13.9 million, or 3 cents per share, up from $3.8 million, or apenny, in the first quarter of 2017. “As a result of the continuedoutperformance at Yaramoko that delivered record cash flow and gold productionin the first quarter, we have increased our full-year production guidance to bebetween the range of 120,000 to 130,000 ounces and have reduced our cashoperating cost and all-in sustaining cost guidance for the year, says JohnDorward, president and chief executive officer. He later adds, “OurBagassi South expansion is tracking well to the schedule and budget and will becompleted in the fourth quarter, while we continue executing on our extensiveregional exploration program.”
By Allen Sykoraof Kitco News; asykora@kitco.com
Brio Gold Reports Net Loss In First Quarter
Wednesday May 14, 2018 09:07
Brio Gold Inc. (TSX: BRIO) reportsa net loss in the firstquarter of $8.7 million, or 7 cents per share, compared to a net income of $3.4million, or 3 cents, in the first quarter of 2017. The turnaround was mainlydue to lower mine operating earnings, acquisition transaction-related expensesand changes in income-tax expense, the company says. The adjusted loss in thefirst quarter was $4.6 million, compared to adjusted earnings of $3.5 millionin the same period of 2017. Gold production eased to 46,057 ounces from 50,540,but was in line with company expectations. In February, the company announcedan agreement in which Leagold Mining Corp. would acquire Brio Gold. Thetransaction received shareholder approval and is expected to close by the endof May, Brio says.
By Allen SykoraFor Kitco News
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