JOHANNESBURG (miningweekly.com) – TSX-listed Leagold Mining’s Los Filos mine, in Mexico, produced 53 446 oz of gold at an all-in sustaining cost (AISC) of $910/oz in the fourth quarter of 2017.
The company bought the mine from Goldcorp in April 2017.
Leagold on Thursday stated that fourth-quarter gold production had improved on that of the prior quarter owing to continued improvements in utilisation rates, higher productivity of mining equipment, increased openpit and underground ore tonnes mined and higher mined grades.
From the $18.7-million generated during the fourth quarter, Leagold invested $8.1-million for the Bermejal Underground expansion project, most of which was related to drilling and infrastructure development, and $2.9-million for the agglomerator and overland conveyor projects and other optimisation initiatives.
As a result, Leagold generated positive free cash flow of $1.2-million for the quarter.
Leagold will continue to focus on the advancement of the Bermejal Underground expansion project at the Los Filos mine this year.
Leagold had previously completed a 5 000 m infill and step-out drilling programme and a portal and decline trade-off analysis. It had also started the development of an exploration portal and ramp.
As at March 1, over 500 m of development had been completed on the main ramp, as well as an additional 191 m of secondary development. The cross cut to access the test mining area started in late February and is scheduled to reach mineralisation by the end of the second quarter of this year.
Leagold expects to produce between 215 000 oz and 240 000 oz of gold at an AISC of $875/oz to $925/oz for this year, representing growth of between 12% and 25% over the 191 195 oz produced in 2017JOHANNESBURG (miningweekly.com) – TSX-listed Leagold Mining’s Los Filos mine, in Mexico, produced 53 446 oz of gold at an all-in sustaining cost (AISC) of $910/oz in the fourth quarter of 2017.
The company bought the mine from Goldcorp in April 2017.
Leagold on Thursday stated that fourth-quarter gold production had improved on that of the prior quarter owing to continued improvements in utilisation rates, higher productivity of mining equipment, increased openpit and underground ore tonnes mined and higher mined grades.
From the $18.7-million generated during the fourth quarter, Leagold invested $8.1-million for the Bermejal Underground expansion project, most of which was related to drilling and infrastructure development, and $2.9-million for the agglomerator and overland conveyor projects and other optimisation initiatives.
As a result, Leagold generated positive free cash flow of $1.2-million for the quarter.
Leagold will continue to focus on the advancement of the Bermejal Underground expansion project at the Los Filos mine this year.
Leagold had previously completed a 5 000 m infill and step-out drilling programme and a portal and decline trade-off analysis. It had also started the development of an exploration portal and ramp.
As at March 1, over 500 m of development had been completed on the main ramp, as well as an additional 191 m of secondary development. The cross cut to access the test mining area started in late February and is scheduled to reach mineralisation by the end of the second quarter of this year.
Leagold expects to produce between 215 000 oz and 240 000 oz of gold at an AISC of $875/oz to $925/oz for this year, representing growth of between 12% and 25% over the 191 195 oz proJOHANNESBURG (miningweekly.com) – TSX-listed Leagold Mining’s Los Filos mine, in Mexico, produced 53 446 oz of gold at an all-in sustaining cost (AISC) of $910/oz in the fourth quarter of 2017.
The company bought the mine from Goldcorp in April 2017.
Leagold on Thursday stated that fourth-quarter gold production had improved on that of the prior quarter owing to continued improvements in utilisation rates, higher productivity of mining equipment, increased openpit and underground ore tonnes mined and higher mined grades.
From the $18.7-million generated during the fourth quarter, Leagold invested $8.1-million for the Bermejal Underground expansion project, most of which was related to drilling and infrastructure development, and $2.9-million for the agglomerator and overland conveyor projects and other optimisation initiatives.
As a result, Leagold generated positive free cash flow of $1.2-million for the quarter.
Leagold will continue to focus on the advancement of the Bermejal Underground expansion project at the Los Filos mine this year.
Leagold had previously completed a 5 000 m infill and step-out drilling programme and a portal and decline trade-off analysis. It had also started the development of an exploration portal and ramp.
As at March 1, over 500 m of development had been completed on the main ramp, as well as an additional 191 m of secondary development. The cross cut to access the test mining area started in late February and is scheduled to reach mineralisation by the end of the second quarter of this year.
Leagold expects to produce between 215 000 oz and 240 000 oz of gold at an AISC of $875/oz to $925/oz for this year, representing growth of between 12% and 25% over the 191 195 oz produced in 2017.