How about giving us the 40 + million? I could difinitely use some of it about now.
Argonaut Gold Meets Production Guidance with 139,059 Gold Equivalent Ounces and increases Cash Balance to $46 million
2016 Guidance of 130,000-140,000 Gold Equivalent Ounces of Production at a Cash Cost of $750-$800
Toronto, Ontario – (January 13, 2016) Argonaut Gold Inc. (“Argonaut”, “Argonaut Gold” or the “Company”; TSX: AR) announced today that it had produced 30,399 gold equivalent ounces (“GEO” or “GEOs”; calculated at conversion ratios set out below) during the fourth quarter ended December 31, 2015. This included 16,731 GEOs at its 100% owned El Castillo Mine (“El Castillo”) located in the State of Durango, Mexico and 13,668 GEOs at its 100% owned La Colorada Mine (“La Colorada”) located near Hermosillo, Mexico.
|
4th Quarter |
Change |
Full Year |
Change
|
2015 |
2014 |
2015 |
2014 |
Total Gold Equivalent Ounce Production: |
|
|
|
GEOs loaded to the pads1 |
55,769 |
62,823 |
↓11% |
214,662 |
241,656 |
↓11% |
GEOs projected recoverable ounces1,2 |
28,823 |
38,093 |
↓24% |
119,256 |
140,563 |
↓15% |
GEOs produced ounces1 |
30,399 |
44,312 |
↓31% |
139,059 |
136,706 |
↑2% |
GEOs ounces sold1 |
29,337 |
41,172 |
↓29% |
136,874 |
132,976 |
↑3% |
1 GEOs are based on conversion ratio of 55:1 for silver to gold ounces and is the referenced ratio for the 2015 results
2 Recoverable ounces – El Castillo expected recovery rates: ROM oxide 50%, crushed oxide 70%, ROM transition 40%, crushed transition 60%, crushed sulphides argillic 30% and crushed sulphides silicic 17%; La Colorada expected recovery rates: gold 60% and silver 30%.