QMX Gold Corp. (TSX: T.QMX, Stock Forum) has produced approximately 4,000 ounces of gold from its Lac Herbin Mine in Val D'Or, Quebec in the fourth quarter of 2012.
This brings total 2012 production for that mine to over 20,000 ounces of gold.
According to the QMX Gold press release, the company achieved its 2012 production guidance of between 18,500 to 20,500 by producing 20,100 ounces of gold from the Lac Herbin Mine.
The average recovery for 2012 was 89.8%, which is slightly better than the budgeted recovery rate of 89%.
Higher recoveries over the course of 2012 can be attributed to operational improvements in the milling process and a higher grade of ore delivered to the mill.
QMX Gold is focused on mine development and exploration in Quebec and Manitoba.
On Thursday morning, QMX Gold was trading at $0.32 a share. The company has a market cap of $9.9 million, based on 30.9 million shares outstanding. The 52-week high and low was $1.60 and $0.195 respectively.