GCM Mining (TSX:GCM) Studies Operational Update at Segovia and Maria Dama Plant, Declares August 2022 Dividend

Supply: GCM Mining

GCM Mining (TSX:GCM) has announced manufacturing updates for the next quarter and very first 50 % of 2022 reflecting increased output from the similar period a year back. The company reported creation of 16,370 ounces gold for June 2022 at the Segovia Functions to create a whole of 53,198 ounces for 2Q2022 vs . 52,198 ounces for the same quarter in 2021. 2Q2022 also saw silver production of 85,741 ounces silver, 294,000 pounds of zinc, and 345,000 kilos of lead.

GCM Mining’s very first fifty percent of 2022 generation was also larger than the very same period of time in 2021. At the Segovia Operations, the business manufactured 103,149 ounces of gold, when compared to 101,256 in the to start with half of 2021. Consolidated gold generation in 2021’s very first fifty percent was 103,684 such as 2,428 ounces from the Marmato mine up to the day of the loss of management of Aris Gold Company on February 4, 2021. Trailing 12-months’ full gold manufacturing ended June 2022 totalled 208,282 ounces, roughly 1% more than the former calendar year. GCM has said that it is now on keep track of to meet the 2022 creation assistance of 210,000 to 225,000 ounces of gold this calendar year. The completion of the Maria Dama plant extension will assist this intention by incorporating 2,000 tonnes per day of potential someday in the 3rd quarter of 2022.

The plant is the cornerstone of its operations, processing 44,047 tonnes in June 2022 alone, with a each day average processing fee of 1,468 tpd at an average head quality of 12.8 g/t. Functions at the plant in June also mirrored a scheduled 120-hour stoppage to transform the linings of the mill on prime of the company’s plan repairs and enhancements.

With the operational update, GCM Mining also declared its subsequent regular monthly dividend slated for August 15, 2022, which will be paid out to all shareholders of document as of the close of organization on July 29, 2022. The Board of Administrators for the enterprise authorised a dividend of CA$.015 for every prevalent share to be paid out on that date.

Other highlights from the Segovia Functions update include:

For the next quarter of 2022, a overall of 147,580 tonnes, equal to 1,622 tpd, had been processed at Segovia at an regular head grade of 12.4 g/t when compared with a complete of 143,910 tonnes, equal to 1,581 tpd, at an common head quality of 12.6 g/t in the second quarter previous year. This provides the every day ordinary processing fee for the first 50 percent of 2022 to 1,604 tpd at an ordinary head grade of 12.3 g/t compared with 1,526 tpd and 12.7 g/t in the to start with fifty percent final year.

The Company’s polymetallic plant at Segovia processed an average of around 97 tpd of tailings in the first half of 2022 resulting in the generation of roughly 645 tonnes of zinc concentrate and approximately 547 tonnes of lead focus which have been stockpiled and are predicted to begin shipping and delivery in the upcoming number of weeks beneath an offtake settlement with an international shopper that was executed in June. Payable generation from the concentrates in the 1st half of 2022 is approximated to overall roughly 546,000 lbs of zinc, 683,000 lbs . of direct, approximately 57,600 ounces of silver and roughly 200 ounces of gold. Real payable quantities are issue to change and will be finalized at the time the concentrates are transported.

Source: GCM Mining


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