TORONTO (miningweekly.com) – Ontario-focused gold miner Detour Gold’s TSX-listed stock on Tuesday closed down C$0.31 a share after the company reported that it had missed its full-year output guidance, stifled by a longer-than-expected mill shutdown in December.

Toronto-based Detour said full-year gold output totalled 232 287 oz, slightly below its lower-end guidance of 240 000 oz. Gold sales totalled 212 522 oz, at an average realised price of $1 318/oz.

The company said its mill availability was reduced in December owing to a four-day planned shutdown and a subsequent mechanical failure of the pre-leach thickener, which caused the mill to shut down for an additional 15 days.

Repairs to the torque cage structure and rakes were successfully completed and operations restarted on January 2. Detour said it used the downtime periods to complete several mill-related repairs and improvements, which were expected to have a positive impact on near-term performance.

“The significant shutdown in December impacted our progress but I am pleased to report that we are now back on track with milling rates having returned to pre-shutdown levels. For 2014, we look forward to delivering steady production growth and reducing unit costs,” interim CEO Paul Martin said.

Detour said it had incurred about C$196-million in sustaining capital during the year, excluding any deferred stripping costs. The company closed 2013 with cash and short-term investments of about C$96-million, which was higher than expected as a result of favourable timing of harmonised sales tax refunds.

In the fourth quarter, the mill processed 3.4-million tonnes of ore at an average grade of 0.81 g/t with recoveries of 92% for gold output of 81 877 oz. Gold sales totalled 95 000 oz, at an average realised price of $1 269/oz.

Detour said it expected to make several catalytic announcements during the first quarter, including the 2014 operational and financial guidance by the end of January; a new life-of-mine plan and a year-end 2013 mineral reserve/resource update for Detour Lake by early February; and fourth-quarter and full-year 2013 financial results early in March.

Detour’s stock in November fell sharply after the company reported the abrupt departure of president and CEO Gerald Panneton.

On Tuesday, Detour’s TSX-listed stock closed down 4.69% at C$6.30, having shed more than 70% off its value in the past year.