RE:RE:News
TORONTO, ON --(Marketwired - July 12, 2017) - Gran Colombia Gold Corp. (TSX: GCM) announced today that it produced a total of 16,258 ounces of gold in the month of June, surpassing the monthly production record set last month and bringing the total for the second quarter of 2017 to 46,075 ounces, up 21% over the second quarter last year. For the first half of 2017, gold production increased by 22% over the first half last year to a total of 85,083 ounces. The trailing 12 months' total gold production as of the end of June 2017 now stands at 165,073 ounces, up 10% over 2016's annual gold production and above the Company's production guidance for the 2017 calendar year of a total of 150,000 to 160,000 ounces.
Commenting on the mid-year 2017 production update, Serafino Iacono, Executive Co-Chairman of Gran Colombia, said, "We are very pleased with the steady improvement in our gold production this year which is paving the way for us to execute our capital programs, keep our working capital in good shape and continue to aggressively reduce our senior debt."
At the Segovia Operations, tonnes processed averaged 842 tpd in the second quarter of 2017, a 9% increase over the second quarter last year. In addition, head grades in the Company-operated mining areas improved to an average of 11.3 g/t in the second quarter of 2017, up from an average of 4.4 g/t in the second quarter last year, as a result of mining higher grade stopes in the Providencia mine this year. This brought the overall head grade for the Segovia Operations to an average of 15.9 g/t in the second quarter of 2017 compared with 13.8 g/t in the second quarter last year. Segovia's gold production of 14,243 ounces in the month of June, also a new monthly record, brought the total for the first half of 2017 to 72,996 ounces, up 26% over the same period last year. The trailing 12 months' total gold production as of the end of June 2017 at Segovia was 141,374 ounces, up 12% over 2016's annual gold production and above the Company's production guidance range for the 2017 calendar year at Segovia of 126,000 to 134,000 ounces.
At the Marmato Operations, gold production continued to be steady with 2,015 ounces produced in the month of June, bringing the total for the first half of 2017 to 12,087 ounces, up 2% over the same period last year. This brings Marmato's trailing 12 months' gold production at the end of June 2017 to 23,699 ounces, up 1% over its 2016 annual production. The Company expects Marmato's annual gold production for 2017 will range between 24,000 and 26,000 ounces.
TORONTO, ON --(Marketwired - July 12, 2017) - Gran Colombia Gold Corp. (TSX: GCM) announced today that it produced a total of 16,258 ounces of gold in the month of June, surpassing the monthly production record set last month and bringing the total for the second quarter of 2017 to 46,075 ounces, up 21% over the second quarter last year. For the first half of 2017, gold production increased by 22% over the first half last year to a total of 85,083 ounces. The trailing 12 months' total gold production as of the end of June 2017 now stands at 165,073 ounces, up 10% over 2016's annual gold production and above the Company's production guidance for the 2017 calendar year of a total of 150,000 to 160,000 ounces.
Commenting on the mid-year 2017 production update, Serafino Iacono, Executive Co-Chairman of Gran Colombia, said, "We are very pleased with the steady improvement in our gold production this year which is paving the way for us to execute our capital programs, keep our working capital in good shape and continue to aggressively reduce our senior debt."
At the Segovia Operations, tonnes processed averaged 842 tpd in the second quarter of 2017, a 9% increase over the second quarter last year. In addition, head grades in the Company-operated mining areas improved to an average of 11.3 g/t in the second quarter of 2017, up from an average of 4.4 g/t in the second quarter last year, as a result of mining higher grade stopes in the Providencia mine this year. This brought the overall head grade for the Segovia Operations to an average of 15.9 g/t in the second quarter of 2017 compared with 13.8 g/t in the second quarter last year. Segovia's gold production of 14,243 ounces in the month of June, also a new monthly record, brought the total for the first half of 2017 to 72,996 ounces, up 26% over the same period last year. The trailing 12 months' total gold production as of the end of June 2017 at Segovia was 141,374 ounces, up 12% over 2016's annual gold production and above the Company's production guidance range for the 2017 calendar year at Segovia of 126,000 to 134,000 ounces.
At the Marmato Operations, gold production continued to be steady with 2,015 ounces produced in the month of June, bringing the total for the first half of 2017 to 12,087 ounces, up 2% over the same period last year. This brings Marmato's trailing 12 months' gold production at the end of June 2017 to 23,699 ounces, up 1% over its 2016 annual production. The Company expects Marmato's annual gold production for 2017 will range between 24,000 and 26,000 ounces.