Post by
VerusSemperSors on Feb 16, 2021 9:17am
> 200,000 ounces of gold production from Segovia in 2021
Is that an increase from the current production level? I know total production is about 240,000 and Segovia is the bulk of it.
It looks like a much higher open is in store despite gold being down $30 to about $1,795 now,
From the News Release:
Lombardo Paredes, Chief Executive Officer of Gran Colombia, commenting on the "Company's expected production in 2021, said, "Our Segovia Operations continue to be one of the highest-grade underground global gold mines. In 2021, we are complementing our ongoing mining operations and exploration at our four existing mines with a broader regional drilling program within our mining title targeting the other 24 of 27 known veins which we are not currently mining. While the month of January typically starts off a little slower following the holidays and this year included a two-day planned shutdown of the Maria Dama plant for regular maintenance, we are maintaining our COVID-19 protocols and we are confident our mine plan will deliver more than 200,000 ounces of gold production from Segovia in 2021."
Gran Colombia processed an average of 1,336 tonnes per day ("tpd") in January 2021 at its Segovia Operations with an average head grade of 12.6 g/t resulting in 15,055 ounces of gold production for the month. January's production reflected a scheduled semi-annual two-day plant shutdown for regular maintenance. Over the last 10 years, the Company has produced a total of approximately 1.3 million ounces of gold from its Segovia Operations at an average head grade of 13.8 g/t. In 2021, the Company expects that head grades will continue to average between 13 to 15 g/t over the course of the year."
Comment by
invest234 on Feb 16, 2021 1:41pm
plus separating gcm from marmato means the debt of aris won't appear on gcm balance sheet, as was the original intention.
Comment by
kkkrrr on Feb 16, 2021 2:19pm
seperating Segovia-production from Marmato means AISC are lower because the Segovia-operation is low cost...
Comment by
menoalittle on Feb 16, 2021 2:24pm
There will likely be some analyst that looks at GCM's balance sheet 6 months from now and ask... where did this company come from, and why hasn't a major moved to gobble this up yet?