GCM's Q2 production increased 41%Production Update The Company also announced today that it produced a total of 38,229 ounces of gold in the second quarter of 2016, up 21% from the first quarter of this year and up 34% from the second quarter a year ago. This brings the total production for the first half of 2016 to 69,718 ounces of gold, up 33% over the first half of 2015. The Company remains on track with its production guidance for 2016 of a total of 120,000 to 138,000 ounces for the full year.
At the Segovia Operations, second quarter 2016 gold production totalled 31,884 ounces, up 23% from the first quarter of 2016 and up 41% from the second quarter a year ago. Gran Colombia processed an average of 771 tonnes per day ("tpd") with head grades averaging 13.8 g/t at Segovia in the second quarter of 2016, an improvement from 730 tpd at an average head grade of 12.9 g/t in the first quarter of 2016 and 534 tpd at head grades averaging 15.5 g/t in the second quarter a year ago. Improved mill recovery was also a factor in the increased gold production in the second quarter of 2016. For the first half of 2016, gold production at the Segovia Operations totalled 57,883 ounces, up 41% from the first half last year. Gran Colombia expects to produce a total of 96,000 to 110,000 at its Segovia Operations for the full year 2016.
At the Marmato Operations, tonnes processed increased by 19% in the second quarter of 2016, compared with the first quarter this year, to 987 tpd with head grades averaging 2.6 g/t. This resulted in gold production of 6,345 ounces in the second quarter of 2016, up 16% from the first quarter of 2016 and up 7% from the second quarter a year ago. For the first half of 2016, gold production at the Marmato Operations totalled 11,835 ounces, up 4% from the first half last year. Gran Colombia expects to produce a total of 24,000 to 28,000 at its Marmato Operations for the full year 2016.
Q2 2016 Results Webcast
The Company announced today that it will release its financial results for the second quarter of 2016 after market close on Thursday, August 11, 2016 and will host a conference call and webcast on Friday, August 12, 2016 at 9:30 a.m. Eastern Time to discuss the results.
Webcast and call-in details are as follows:
Live Event link: https://edge.media-server.com/m/p/6swovr25
Toronto & International: 1 (514) 841-2157
North America Toll Free: 1 (866) 215-5508
Colombia Toll Free: 01 800 9 156 924
Conference ID: 42439708
A replay of the webcast will be available at www.grancolombiagold.com from Friday, August 12, 2016 until Sunday, September 11, 2016.