“We are generally pleased with the progress made in the first half of 2022 where we focused on the Cosalá Operations ramp-up, the refurbishment and installation of the new hoist at the Galena Complex and improving the overall financial position of the Company,” stated Americas Gold and Silver President & CEO Darren Blasutti.
“The closing of this acquisition marks an important milestone in Orla’s journey in becoming a growth-oriented, low-cost, mid-tier gold producer,” said Jason Simpson, President and Chief Executive Officer of Orla Mining.
Luis Marchese, CEO of Sierra Metals, commented, “Following a steady quarter, increased production and higher grades for all metals except lead at Yauricocha has helped boost consolidated copper equivalent payable pounds by 12% over the first quarter.”
Commissioning is underway at the Las Chispas Mine and achievement of commercial production is expected during Q4, 2022.
Based on positive exploration results in the first half of 2022, a supplemental exploration budget of $30 million has been approved.
Jorge A. Ganoza, President and CEO, commented, “Our business generated healthy free cash flow of $21.9 million in spite of declining metal prices in the quarter and the compounding negative price adjustments this triggers on our concentrate sales.”
President and CEO James McDonald states “We are very pleased with the willingness of our option holder to amend the option agreement and look forward to announcing drill results from the 2022 program.”
“In the quarter, we continued to focus on our Los Ricos project as we advance Los Ricos South to a pre-feasibility study and continue with our drilling program at Los Ricos North,” said Brad Langille, President and CEO.
Golden’s President and Chief Executive Officer, Warren Rehn, commented on the quarter’s results, “Our production at Rodeo continues on plan and is providing good cash flow while we continue to work on the re-start of Velardeña. At Velardeña our recent test-mining showed excellent progress on productivity; however, the dilution control was not up to expectations, mostly due to geologic factors on the San Mateo vein.”
“We delivered steady financial and operating results for the second quarter of 2022, highlighted by solid revenues and mine operating income,” said David Wolfin, President and CEO.
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