“The consistent operational and cost performance that investors have come to expect of Torex continued in the first quarter of 2023, placing the Company in an excellent position to deliver on full year operational guidance for a fifth year in a row. During the quarter, the team produced 122,918 ounces of gold at an all-in sustaining cost of $1,079 per ounce, implying an all-in sustaining costs margin of 42%.”
“Going forward, Pan American will be a significantly larger, more diversified company following our acquisition of Yamana. Our guidance for 2023 demonstrates the positive impact of the four new mines on production and costs, and we are excited by the growth opportunities the combined portfolio presents.”
“GoGold maintains a strong balance sheet with over $100 million USD in cash which continues to allow us to advance our Los Ricos South project in an expeditious manner.”
“We are very excited with MCR’s progress at the SDA Plant,” says Joanne Freeze, President and CEO of Xali Gold. “The Profit Sharing Agreement with MCR and the same with Sun River Gold on the El Oro Tailings project will allow us to put our assets to work and provide cash flow while we continue to evaluate other opportunities.”
Golden Minerals Company has today released financial results and a business summary for the quarter ending March 31, 2023.
Greg McKenzie, President and CEO commented: “Concurrent with the growth in our asset base, we are experiencing growth in our investor base from European investors, a market that has traditionally experienced a strong demand for silver.”
The Company intends to use the proceeds from the Offering for exploration work, including drilling on its recently acquired Quitovac Mine Project, and for general working capital purposes.
Entitled “Enriched By Our Past, Engaged In Our Future”, the Company’s 10th Sustainability Report has been prepared in accordance with the Global Reporting Initiative Standards and the Sustainability Accounting Standards Board framework, as well as with reference to the United Nations Sustainable Development Goals.
Chief Executive Officer Daniel Kunz commented, “With a current cash balance of $45.5 million, we are now positioned to increase our exploration activities at Los Reyes this year and next. We expect to increase the total planned drilling from 45,000 to 60,000 metres for 2023 and to undertake a similar-sized drill program in 2024.”
The Company has experienced delays in preparing the Financial Documents following the acquisition of the Bolivian assets and is working diligently to finalize and file such Financial Documents, at which point the Company will seek to have the CTO revoked.
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