Gran Colombia Gold (
TSX: T.GCM,
Stock Forum) Monday announced total gold production at its Segovia Operations in Colombia in April and May 2013 of 14,367 ounces, or 235 ounces per day, an increase of 11% over average gold production of 212 ounces per day in the first quarter of 2013, this according to a company
news release.
May also saw cash costs at its Segovia Operations improve to $1,073 per ounce, down from $1,315 per ounce in the first quarter of 2013.
"In May, we achieved the highest monthly production in the company's history at our Segovia Operations. I am pleased to announce that we continue to progress towards meeting our annual production target for 2013, and that the cost cutting initiatives identified and implemented across all aspects of our business are resulting in significant reductions in our cost structure that will allow the company to meet its 2013 cash flow targets in the current gold price environment," said Gran Colombia Executive Co-Chairman Serafino Iacono.