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Gran Colombia expects 2019 production at upper-end of guidance

10th December 2019

By: Creamer Media Reporter

     

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Canada-based gold miner Gran Colombia has set a new monthly production record of 21 835 oz of gold in November, keeping the company on track to finish the year in the upper-end of its guidance range.

This brings the total for the first 11 months of 2019 to 217 600 oz, up 9% over the first 11 months of 2018. Gran Colombia’s trailing 12 months’ total gold production at the end of November 2019 increased to 236 608 oz, also up 9% over 2018’s yearly production of 218 001 oz.

Gran Colombia is chasing a production target of 225 000 oz to 240 000 oz of gold.

“Our mining operations at Segovia continue to deliver on expectations and, for the second consecutive month, we have realised an improvement in the head grades at Marmato, setting us up nicely as we proceed with the spin out of the mine to Caldas Gold as part of our initiative to unlock value in our Zona Baja mining assets at Marmato,” said CEO Lombardo Paredes.

The company’s Segovia Operations produced a new monthly record total of 19 447 oz of gold in November bringing the total for the first 11 months of 2019 to 194 108 oz, up 10% over the first 11 months of 2018.

At the Marmato Operations, November’s gold production of 2 388 oz benefitted from an improvement in its head grade to 3.0 g/t. Total production for the first 11 months of 2019 came to 23 492 oz, up almost 3% over the first 11 months of 2018.

Edited by Creamer Media Reporter

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