Argonaught released this NR this morning:
http://finance.yahoo.com/news/argonaut-gold-announces-2013-production-130256131.html
Targeting 2013 production of 120,000 to 140,000 ozs of gold. Happy times? Gold is up this morning so hopefully we can finally have 2 decent days in a row.
TORONTO, ONTARIO--(Marketwire - Feb 25, 2013) - Argonaut Gold Inc. (AR.TO) ("Argonaut", "Argonaut Gold" or the "Company") is pleased to announce Company 2013 production guidance, project initiatives and exploration objectives across the Company''s properties throughout the Americas. Production in 2013 is planned to increase to between 120,000 and 140,000 ounces of gold up from 108,000 ounces of gold in 2012. Cash cost of production is also expected to increase slightly to between $630 and $660 per ounce.
The Company is undertaking an aggressive capital expansion program in 2013 which should prepare the Company for further production expansions in 2014 and beyond. This will essentially complete capital expansion programs at both La Colorada and El Castillo until 2015, when we will finalize the remaining 15mm tons of pad capacity at El Castillo.
Exploration drilling totaling 89,000 meters has taken place at Magino, part of this drilling has revealed a new zone.
Capital Expansion Program for 2013
| El Castillo |
$32 million |
| La Colorada(1) |
$14 million |
| Magino |
$3 million |
| San Antonio(2) |
$3-15 million |
| Exploration(3) |
$5-11 million |
| TOTAL |
$57-75 million |
| Notes: |
|
(1) Including $5 million in pre-stripping costs |
| |
|
(2) Subject to permitting process timeline |
| |
|
(3) Subject to exploration results |
Doc
