Month: October 2019

Mr. Carlos Silva, Chief Operating Officer, stated “The acquisition of the initial 50% ownership of PCG Mining at the beginning of Q3 has resulted in a material positive impact on production during the quarter. With the recent acquisition of the remaining 50% of PCG Mining, we expect a further significant production increase in Q4 and into 2020 as a result of Grupo Penoles agreeing on October 29, 2019 to extend the Zimapan Mine lease to December 31, 2020. We continue to have positive discussions with Grupo Penoles, the owner of the Zimapan Mine, with respect to acquiring the mine outright.”

Scott Perry, President and Chief Executive Officer of Centerra stated, “During the quarter we achieved a number of significant Lost Time Injury Free milestones including one million work hours at our Öksüt Project and Mount Milligan, one full year at Kumtor and most recently six full years without incurring a lost time injury to our employees or contractors at the Endako Mine. These achievements validate that Zero Harm is within our reach at Centerra and demonstrates our workforce’s commitment to Centerra’s Work Safe – Home Safe program as we continue to build a team-based culture of excellence that responsibly delivers sustainable value and growth.”

“Having achieved commercial production ahead of schedule, South Arturo continues to exceed my expectations” stated John Begeman, Executive Chairman of Premier. “Realizing commercial production at El Nino this year rather than next is a positive development that we expect will impact Premier’s consolidated operating performance for 2019, particularly in the fourth quarter.”

Fred Stanford, President & CEO of Torex, stated: “From every perspective, this was an excellent quarter. Safety performance continued to be outstanding with zero lost time injuries in the quarter. Record gold production of 138,145 ounces was more than 20% higher than the previous record set earlier in the year…”

Total production during Q3 was 35,042 gold ounces and 947,145 silver ounces, or 45,930 gold equivalent ounces using the average gold:silver price ratio for Q3 of 87:1.

Completed 100% acquisition of Plomosas in September 2019, acquiring the remaining 10% interest, in exchange for a 1.0% net smelter return royalty

Terry MacGibbon, Chair of the Torex Board of Directors, stated: “Since co-founding Torex over 10 years ago, I am very proud of the Company’s success and its evolution to a well-established Canadian intermediate gold producer. The Company is on a great trajectory with its foundational asset, the El Limón Guajes mining complex, a highly experienced and respected management team, and strong growth opportunities.”

“Our Oaxaca Mining Unit’s strong operational results, coupled with our continued ramp up of our Isabella Pearl mine, which recently declared commercial production, resulted in record gold production for the third quarter,” stated Mr. Jason Reid, President and CEO of Gold Resource Corporation.