R/€ = 15.56 Change: -0.02
R/$ = 13.91 Change: -0.05
Au 1417.60 $/oz Change: -10.10
Pt 847.95 $/oz Change: -2.53
 
 
R/€ = 15.56 Change: -0.02
R/$ = 13.91 Change: -0.05
Au 1417.60 $/oz Change: -10.10
Pt 847.95 $/oz Change: -2.53
 
 
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Gran Colombia hikes 2019 production target

11th July 2019 BY: Creamer Media Reporter

Colombia’s largest underground gold and silver producer, TSX-listed Gran Colombia, has increased its guidance for 2019 to between 225 000 oz and 240 000 oz.

The new guidance compares with a previous range of 210 000 oz to 225 000 oz, and follows a strong six-month period.

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The miner produced 18 882 oz of gold in June, bringing the second quarter total to 57 882 oz, up 9% on the prior-year quarter. For the first half of 2019, production increased by 12% year-on-year to 118 483 oz, which brought the trailing 12 months’ total at the end of June to 230 906 oz, or 6% higher than 2018’s yearly production.

Commenting on the production results, CEO Lombardo Paredes said the strong operating performance of the quarter was led by its flagship Segovia Operations.

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The Segovia Operations produced 16 891 oz of gold in June bringing the total for the second quarter of 2019 to 51 625 ounces, up 10% over the second quarter of 2018. Gran Colombia processed an average of 1 173 t/d at its Segovia Operations in the second quarter, up 16% compared with the second quarter last year. After receiving a boost from a high-grade area at the Providencia mine in the first quarter this year, Segovia’s overall head grade returned to an average of 16.8 g/t in the quarter under review, compared with 17.3 g/t a year earlier.

For the first half of 2019, the Segovia Operations produced 106 011 oz of gold, up 13% over the first half last year. Overall, the Company processed an average of 1 143 t/d in the first half of 2019, up 18% over the first half last year, at an average head grade of 17.8 g/t, up from 16.7 g/t in the first half last year.

At the Marmato Operations, June’s gold production of 1 991 oz brings its total production for the second quarter of 2019 to 6 257 oz, up 7% compared with the second quarter of 2018. For the first half of 2019, Marmato produced 12 472 oz of gold, up 4% over the first half last year. 

EDITED BY: Mariaan Webb Creamer Media Senior Researcher and Deputy Editor Online
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