Centamin (LSE: CEY; TSX: CEE) reports that 2015 gold output rose at its Sukari Gold Mine in Egypt, and the company expects another increase in production this year. Preliminary production at the mine for the quarter ending Dec. 31 was 117,644 ounces, a 12% increase on the previous quarter but an 8% decrease on the same quarter in 2014. This brings full-year production to 439,072 ounces, a 16% increase over 2014 and within guidance of between 430,000 and 440,000 ounces for 2015. Meanwhile, the company forecast production for 2016 at 470,000 ounces at a cash operating cost of $680 per ounce and all-in-sustaining cost $900. This would represent a 7% increase on 2015 production and a reduction over 2015 cost guidance of $700 per ounce cash operating cost and $950 per ounce AISC, Centamin says.
By Allen Sykora of Kitco News; asykora@kitco.com
Royal Gold Subsidiary Sells 61,500 Ounces Of Gold Under Streaming Agreements
Thursday January 07, 2016 09:34
Royal Gold, Inc. (NASDAQ: RGLD; TSX: RGL) reports that for its fiscal 2016 second quarter that ended on Dec. 31, its wholly owned subsidiary RGLD Gold AG sold approximately 61,500 ounces of gold under streaming agreements at an average realized gold price of $1,094 per ounce. The company had approximately 25,700 ounces of gold in inventory as of year-end. RGLD Gold AG’s average cost of sales for the quarter was approximately $370 per stream ounce. The cost of sales is specific to stream agreements and is the result of the company’s purchases of gold for a cash payment of a set contractual price, or the prevailing market price of gold when purchased.
By Allen Sykora of Kitco News; asykora@kitco.com
Claude Resources Reports Record Gold Production In 2015
Thursday January 07, 2016 09:34
Claude Resources Inc. (TSX: CRJ) says that its Seabee gold operation exceeded revised guidance and achieved record annual gold production of 75,748 ounces during 2015, up 20% from the prior year. The record performance was a result of a 20% improvement in grade to 8.82 grams of gold per tonne, along with strong mill recoveries of 96.3% on 277,368 tonnes. Also, 2015 gold sales improved 16% to 72,699 ounces from 62,772 in 2014. At Seabee in 2016, production is expected to be between 65,000 and 72,000 ounces of gold. “With record gold production, improved unit costs and successful advancement of the high-grade Santoy Gap deposit ahead of schedule, we generated strong free cash flow and ended the year with a very strong cash and bullion position of $39.8 million, a $28.6 million increase from year-end 2014,” says Brian Skanderbeg, president and chief executive officer.
By Allen Sykora of Kitco News; asykora@kitco.com
