Timmins West gold project, Canada

The preliminary economic assessment on the Timmins West gold project, envisions an operation with the potential to produce about 1.4-million ounces over ten years.

Lake Shore Gold obtains $70m credit facility

Ontario-focused Lake Shore Gold on Wednesday announced that it had entered into an agreement with Sprott Resource Lending Partnership for a credit facility of up to $70-million. CEO Tony Makuch said Lake Shore Gold would use the funds to bring...

Lake Shore posts $5.5m Q4 loss

Lake Shore Gold made a C$5.5-million, or C$0.01 a share, net loss in the fourth quarter after a drop in production pushed unit costs higher and the Toronto-based company wrote down investments in other juniors. The TSX-listed miner produced 26...

Lake Shore gets $50m injection from Franco-Nevada

Lake Shore Gold and Franco-Nevada on Wednesday struck a deal whereby the royalty firm will pay the miner $35-million for a net smelter royalty (NSR) and a further $15-million for 10-million shares in the company. Lake Shore CEO Tony Makuch said...

Lake Shore outlines drill results from Bell Creek

Lake Shore Gold Corp said the latest drilling results from its Bell Creek mine in northern Ontario indicate gold mineralization at the site extends 400 meters below its current resource. Toronto-based Lake Shore said the new drill holes were...

Lake Shore falls as output misses expectations

Shares in Toronto-based Lake Shore Gold dropped 15.6% on Tuesday, after the company said that second-quarter production was lower than expected and revised its full-year forecasts. Lake Shore poured 17 421 oz of gold in the second quarter, while...

Lake Shore buys Ontario project from Barrick

Lake Shore Gold has agreed to buy the Fenn-Gib project, about 60 km east of Timmins, in Ontario, from Barrick Gold, in return for C$60-million worth of shares.

Lake Shore Gold adopts poison pill

Toronto-based Lake Shore Gold has adopted a shareholder rights plan, the company said on Friday. Lake Shore said the plan would ensure all shareholders were treated fairly in the event of a takeover bid, but was not adopted in response to any...

Lake Shore says gold output to almost triple this year

Toronto-based Lake Shore Gold expects to produce 125 000 oz of gold this year, an increase of 187% compared with 2010, the firm said on Tuesday. Including material extracted under advanced exploration programmes at its Thunder Creek and Bell...

Lake Shore reports milestone at Timmins mine

TSX-listed Lake Shore Gold has declared commercial production at its Timmins mine, in Ontario, with effect from January 1. The operation achieved an average mining rate of 1 700 t/d in December and about 1 600 t/d for the fourth quarter, beating...

Lake Shore mulls mill expansion to 3 000 t/d next year

TSX-listed Lake Shore Gold is “strongly considering” a further expansion of its Bell Creek mill in Timmins, Ontario, next year to 3 000 t/d, a senior executive said on Wednesday. The company is already nearing completion of an expansion to...

Lake Shore says Timmins ramp reaches Thunder Creek

TSX-listed Lake Shore Gold has reached the mineralisation at its Thunder Creek deposit, after connecting it to the Timmins mine with a new access ramp, the company reported on Tuesday. CEO Tony Makuch said that the company was pleased with the...