RE:RE:Production and Exploration SuccessBelow is a copy paste from the 2014 Annual Report showing guidence of 170 to 180,000 oz. Tony upgraded the guidence to 180,000 during the year. I will search it out.
The Road Ahead
.
In 2015, we will continue to achieve high levels of performance. Our
production target for the year is 170,000 to 180,000 ounces of gold.
Our target for cash operating costs is between US$650 and US$700 per
ounce, while all-in sustaining costs are estimated at US$950 to US$1,000
per ounce. Our targets for the year are similar to those we established at
the beginning of 2014. We beat all of our production and cost targets a
year ago and will work diligently to achieve, and potentially beat, our 2015
targets as well.
This coming May, we will make the final monthly payment on our gold-
linked note, at which time we will have fully repaid our $70.0 million senior
secured debt facility. Eliminating that debt will be a very proud moment for
our company, particularly given that we will have repaid the facility entirely
through internally generated cash flow.
With continued strong operating performance, reduced debt obligations
and the benefit of a weaker Canadian dollar, Lake Shore Gold is poised to
generate considerable free cash flow in 2015. How much? Well, so far in
2015 our average Canadian dollar selling price of gold is approximately
$1,500 per ounce. Assuming an average selling price at that level for the full
year, and following our current business plan, we would expect to end 2015
with over $100.0 million of cash and bullion.