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LAKE SHORE GOLD CORP 6.25 PCT DEBS T.LSG.DB



TSX:LSG.DB - Post by User

Comment by savyinvestor1on Oct 09, 2013 9:10am
194 Views
Post# 21802218

RE:SOLID 3RD QUARTER RESULTS

RE:SOLID 3RD QUARTER RESULTSlongs...Please go back over the last 7 dyas of posting and you can see what aliases are SHORTY....I'm sure the bullpen will make them change aliases. Lake Shore Gold Reports Solid Third Quarter 2013 Operating Results, Announces Completion of Mill Expansion and Achievement of Production Target of Over 3,000 Tonnes Per Day Press Release: Lake Shore Gold Corp. – 43 minutes ago Email 0Recommend0Tweet0Share0Print Related ContentRELATED QUOTESSymbol Price Change LSG 0.36 TORONTO, ONTARIO--(Marketwired - Oct 9, 2013) - Total gold sales of 32,300 ounces in third quarter 2013, with 28,300 ounces produced and 25,900 ounces poured Record monthly gold production in September of 12,800 ounces with average mill throughput of 3,370 tonnes per day ("tpd") Grades continue to improve with average grade in third quarter 2013 of 4.6 grams per tonne ("gpt") Mill throughput during third quarter 2013 of 202,300 tonnes, including 148,400 tonnes grading 4.9 gpt from Timmins West Mine, 42,600 tonnes grading 4.2 gpt from Bell Creek and 11,300 tonnes grading 1.6 gpt from low-grade stockpiles processed during mill commissioning Mill expansion completed, Company on track to achieve full year 2013 production guidance of 120,000 to 135,000 ounces. Lake Shore Gold Corp. (LSG.TO)(NYSE MKT:LSG) ("Lake Shore Gold" or the "Company") today announced details of the Company's operating results for the third quarter and first nine months of 2013. For the third quarter of 2013, the Company reported total gold sales of 32,300 ounces at an average price of US$1,324 per ounce ($1,372 per ounce in Canadian dollars). Gold produced during the third quarter totaled 28,300 ounces, an increase of 35% from the third quarter of 2012, with total gold poured of 25,900 ounces. Mill throughput during the third quarter of 2013 totaled 202,300 tonnes at an average grade of 4.6 gpt with average mill recoveries of 95.2%. Of the 202,300 tonnes processed, 148,400 tonnes grading 4.9 gpt was from Timmins West Mine, 42,600 tonnes grading 4.2 gpt was from Bell Creek and 11,300 tonnes grading 1.6 gpt was from low-grade material mined in previous years that was processed during the commissioning of the Company's mill expansion. The mill expansion, which increased milling capacity by 50% from 2,000 tonnes per day to over 3,000 tpd, was completed during the third quarter of 2013. Mill throughput during September exceeded target levels for the expanded milling operations, averaging 3,370 tpd. For the first nine months of 2013, 630,900 tonnes were processed at an average grade of 4.3 gpt for 82,300 ounces of gold production. Gold poured totaled 78,200 ounces with gold sales of 86,000 ounces at an average price of US$1,444 per ounce ($1,476 per ounce in Canadian dollars). With production levels now exceeding 3,000 tonnes per day, the Company entered the fourth quarter well positioned to achieve its key guidance for 2013, including producing between 120,000 and 135,000 ounces of gold at cash operating costs between US$800 and US$875 per ounce, with total capital investment of approximately $90 million. Tony Makuch, President and CEO of Lake Shore Gold, commented: "We have achieved a major milestone for our Company and its shareholders with the completion of our 50% mill expansion. Our new crushing and grinding circuit has been well constructed and includes excellent infrastructure. The expanded capabilities of our mill were highlighted in September when throughput averaged 3,370 tpd and on a number of days was significantly higher than that level. We also continued to see improvement in our grades, achieving an average of 4.6 gpt in the third quarter despite processing some low-grade material during the commissioning of our mill expansion. Our mining operations performed well, with a total of 36,000 tonnes of run-of-mine ore in stockpile at the end of September. "Looking forward, we are well positioned for a strong finish to 2013 and to achieve our key targets for the year. A great deal of hard work and significant capital investment has gone into advancing Lake Shore Gold to the point we have now reached. We are looking forward to reaping the benefits of what has been accomplished." Three Months Ended Nine Months Ended Sept. 30, 2013 June 30, 2013 Sept. 30, 2012 Sept 30, 2013 Sept 30, 2012 Tonnes milled 202,300 230,920 194,000 630,900 537,720 Tonnes per day 2,200 2,540 2,110 2,310 1,970 Recovery (%) 95.2 95.6 97.1 95.5 96.4 Grade (grams/tonne) 4.6 4.3 3.5 4.3 3.7 Gold Ounces Production 28,300 30,800 20,900 82,300 62,000 Poured 25,900 31,800 20,700 78,200 61,100 Sales 32,300 27,600 20,500 86,000 63,800 Gold price (US$/ounce) 1,324 1,409 1,665 1,444 1,649 Details of the Company's financial performance, including capital and operating costs, will be included in its third quarter and nine month 2013 financial results to be released after the market close on Tuesday, November 5, 2013. A conference call and webcast will follow on Wednesday, November 6, 2013. Details of the conference call and webcast will follow. Qualified Person Mine development and operating activities at the Company's Timmins assets are conducted under the supervision of Dan Gagnon, Senior Vice-President, Operations. Mr. Gagnon is a qualified person ("QP") as defined by National Instrument 43-101 and has reviewed and approved the information included in this news release. Mr. Gagnon is an employee of Lake Shore Gold. The QP for production drilling and all areas of mine geology is Eric Kallio, Vice-President, Exploration. As QP, Mr. Kallio prepared or supervised the preparation of all scientific or technical information disclosed in this press release related to mine geology and drilling. Mr. Kallio is an employee of Lake Shore Gold.
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