IAMGOLD (TSX:IMG) has ramped up to commercial production at its Côté gold mine in Sudbury, Ontario, a 60-40 joint venture minority owned by Sumitomo Metal Mining.
The company defines commercial production as “a minimum of 30 consecutive days of operations, during which the mill operated at an average of 60 per cent of nameplate throughput of 36,000 tons per day,” according to a news release.
Côté is well on its way to generating an estimated 220,000-290,000 ounces by year end, with all major equipment operating at or above expectations.
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Commodity prices
As of the time of this writing Tuesday, the price of gold sits at US$2,431.30 per ounce, which is up 3.96 per cent over a one-week period. Year-to-date, the price of gold is up 23.51 per cent, according to data from Kitco.com.
This week in gold
- Silvercorp Metals (TSX:SVM) closed its C$200 million acquisition of Adventus Mining (TSXV:ADZN), an Ecuador-focused copper-gold exploration and development company.
- Slam Exploration (TSXV:SXL) reported new assay results of copper and gold from the first of three holes recently drilled on its Goodwin project in New Brunswick.
- Scorpio Gold (TSXV:SGN) completed Phase 1 drilling as part of its 2024 exploration program at the Manhattan District Project in Nevada.
- Bonus: Be sure to check out Stockhouse’s look at the 10 best-performing Canadian gold stocks from the past year.
Top six trending gold stocks
Join the discussion: Find out what everybody’s saying about gold stocks on Stockhouse’s stock forums and message boards.
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(Top photo of a dump with mine tailings at a gold mine in Canada’s Yukon Territory: Adobe Stock)