MD&A on SEDAR - 2024 OutlookProduction at the Eagle Gold Mine for 2024 is estimated to be between 165,000 and 185,000 ozs.
Although seasonal production fluctuations were reduced in 2023 due to year-round stacking, some production seasonality is expected to continue. Stacking is generally strongest during Q2 and Q3 due to higher temperatures during the summer months. Gold production is also generally strongest in Q2 and Q3 as certain heap leach field activities, such as side slope leaching and usage of surface sprinklers, only occur during the warmer months.
AISC1 for 2024 are expected to be between US$1,450 and US$1,650 per oz of gold sold.
Sustaining capital, not including waste stripping, is estimated at C$30 million (US$23 million) for 2024.
Major items included in 2024 sustaining capital include mobile equipment rebuilds and fixed maintenance rebuilds. Capitalized waste stripping is estimated at C$35 million (US$26 million) and is included in AISC1 but is not included in the sustaining capital above. Waste stripping will be expensed or capitalized based on the actual quarterly stripping ratio versus the expected life of mine stripping ratio and may be quite variable quarter over quarter and year over year. Waste stripping in 2024 is expected to be higher than the life of mine average annual waste stripping. This accounting treatment for waste stripping will affect earnings and capital but will not affect AISC1 or cash flow.
Growth capital related to Eagle Gold Mine expansion initiatives is estimated at C$15 million (US$11 million) for 2024 and includes heap leach pad expansion.
In addition, growth exploration spending in 2024 is estimated to be C$10 million (US$8 million).