Torex: Union Withdraws Application To Represent ELG Mine Workers
Torex Gold Resources Inc. (TSX: TXG) says thecompany has been notified by the Federal Labor Board that the Los Mineros Unionhas withdrawn a challenge to be the legally constituted union for ELG MineComplex employees in Mexico. This means there is no longer a choice betweenunions to be made by employees, the company says. Union-related issues hadresulted in blockades during the last half year. “Enough has already been saidabout the disruption caused by this union representation challenge andassociated illegal blockade,” says Fred Stanford, president and chief executiveofficer. “With the recent end of the blockade and now the end of the unionrepresentation challenge, we can move forward with an absolute focus on valuecreation for shareholders and all stakeholders.” The CEO later adds: “We seethis Los Mineros Union withdrawal from the union selection process as a tacitacknowledgement that the incumbent CTM Union has the support of the majority ofunion eligible employees.”
By Allen Sykoraof Kitco News; asykora@kitco.com
New Fekola Mine EnablesB2Gold To Post Record Output, Revenue
Wednesday April 11, 2018 09:06
B2Gold Corp. (TSX: BTO;NYSE AMERICAN: BTG; NSX: B2G) reports record production and revenue in thefirst quarter after the Fekola Mine hit commercial output in late November. Thecompany lists consolidated gold output of 239,684 ounces. This is up 81%, or106,948 ounces, over the same period last year and is also 7%, or 16,252ounces, above budget, the company says. B2Gold lists record quarterly goldrevenue of $344.3 million, which was up 135%, or $198 million, from theyear-ago period. “B2Gold is well on target to achieve transformational growthin 2018 and meet its annual guidance of between 910,000 and 950,000 ounces ofgold production in 2018 at cash operating costs of between $505 and $550 perounce and all-in sustaining costs of between $780 and $830 per ounce,” thecompany says. The projected full-year output would be some 300,000 ounceshigher than last year.
By Allen Sykoraof Kitco News; asykora@kitco.com
Pretium: Brucejack Produces75,689 Gold Ounces As Ramp-Up Continues
Wednesday April 11, 2018 08:38
Pretium ResourcesInc. (TSX, NYSE:PVG) reports output of 75,689 ounces of gold during thefirst quarter as ramp-up continues at the new high-grade Brucejack Mine inBritish Columbia. The company reports a 96.8% gold recovery rate. Pretium alsolists a 10.9-grams-per- tonne gold mill feed grade for March, with an averageof 9.1 grams for the quarter. “Gold production improved steadily through thefirst quarter, with 32,910 ounces produced in March. This result is attributedto the successful implementation of a number of operational improvementinitiatives,” says Joseph Ovsenek, president and chief executive officer. “Ourgrade control program has now been fully integrated into our mining process andthe rate of underground development has increased to provide for additionalstopes in our inventory. We are focused on continuing to increase grade to themill in Q2, and we remain on track to deliver on our H1 2018 productionguidance of 150,000 to 200,000 ounces of gold....”
By Allen Sykoraof Kitco News; asykora@kitco.com
Golden StarFirst-Quarter Production Steady
Wednesday April 11, 2018 08:38
Golden StarResources (NYSE American: GSS; TSX: GSC; GSE: GSR) reports thatfirst-quarter gold production of 57,616 ounces was in line with 57,795 ouncesin the same period a year ago. The company reports stronger-than-expectedoutput from the Wassa underground mine, allowing the complex to produce 35,506ounces despite the end of output from the main pit during January. "At the end of the first quarter of2018, Golden Star is on track to achieve its 2018 gold production guidance,”says Sam Coetzer, president and chiefexecutive officer. “Wassa's strong performance following the cessationof open-pit production continues to confirm the robustness of the undergroundoperation, both in terms of grade and productivity. The majority of theopen-pit workforce severance charges are now behind us and we believe thatWassa's performance will strengthen further as the year progresses. At PresteaUnderground, we remain confident in our chosen mining method and in our abilityto deliver high-grade production to plan. The mining sequence continues toimprove and we expect that by the middle of the second quarter of 2018,production will have begun to ramp up.”
By Allen Sykoraof Kitco News; asykora@kitco.com
Leagold:1Q Gold Output In Line With Guidance
Wednesday April 11, 2018 08:38
Leagold MiningCorp. (TSX: LMC) announces first-quarter gold production at the Los Filos minein Mexico was 51,003 ounces, leaving the company in line with the full-yearguidance range of between 215,000 and 240,000 ounces. The operating plan at LosFilos calls for higher output in the second half of 2018, the company says.”Onclosing of the Brio Gold acquisition, the combined company is expected toproduce gold at a rate of approximately 450,000 ounces per year from four minesin Mexico and Brazil,” says chief executive Neil Woodyer.
By Allen Sykoraof Kitco News; asykora@kitco.com
Alio Gold 1QOutput Falls; Production Guidance Maintained
Wednesday April 11, 2018 08:38
Alio Gold Inc. (TSX, NYSE AMERICAN: ALO) says preliminaryresults show production of 17,624 ounces in the first quarter at the SanFrancisco Mine in Mexico. This is down from 26,048 in the same period of 2017.However, the company maintained 2018 guidance of between 90,000 and 100,000ounces of gold. “We anticipated the first quarter to be our lowest productionquarter of the year as we implemented our dual cut-off strategy at SanFrancisco,” says chief executive Greg McCunn. Alio says the proposed mergerwith Rye Patch Gold has been supported by major shareholders and is on track toclose May 25.
By Allen SykoraFor Kitco News
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asykora@kitco.com Disclaimer: The views expressed in this article are those of the author and may not reflect those of Kitco Metals Inc. The author has made every effort to ensure accuracy of information provided; however, neither Kitco Metals Inc. nor the author can guarantee such accuracy. This article is strictly for informational purposes only. It is not a solicitation to make any exchange in commodities, securities or other financial instruments. Kitco Metals Inc. and the author of this article do not accept culpability for losses and/ or damages arising from the use of this publication.