Mercedes generating positive cash flow since restart – Premier
The Mercedes gold mine’s restart strategy has placed it on a path of positive cash flow generation, says Toronto-listed Premier Gold Mines.
Following a two-month suspension of operations owing to the Covid-19 pandemic, the mine resumed operations under a new simplified production plan.
The revised production strategy was fully implemented in July, focused on improved operating margins and positive cash flow.
"During the temporary suspension of the operations during the second quarter, the Mercedes team developed a solid re-start strategy with a more focused mine plan, including reduced mill throughput resulting in lower costs and positive cash flow,” Premier COO Peter van Alphen explains.
He also says that ongoing exploration at Mercedes has returned positive results and is prioritised on extending mine life through the growth of reserves in proximity to existing mine workings and the delineation of future resources at the San Martin and Marianas zones. Results to-date have been positive.
The company’s goal is to gradually increase mill throughput back to the plant capacity of 2 000 t/d.
The Mercedes mine is in Mexico.
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