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Mining results roundup: Leagold, Aura, GoGold

Bnamericas Published: Thursday, August 16, 2018
Mining results roundup: Leagold, Aura, GoGold

Leagold Mining recorded Q2 net earnings of US$9.78mn, compared to a US$7.62mn net loss in the same period last year.

Revenue was US$86.9mn on sales of 66,982oz gold, according to a statement. Leagold produced 64,517oz gold in the quarter, up from 43,980oz, due to the addition of three Brazilian gold operations from the acquisition of Brio Gold, which concluded in May.

Los Filos in Mexico (pictured) produced 43,541oz gold in the quarter.

Companywide all-in sustaining costs (AISCs) were US$950/oz gold sold, compared to US$989/oz in 2Q17.

Leagold expects to produce 325,000-350,000oz gold in 2018, up from 215,000-240,000oz originally, reflecting the addition of the RDM, Fazenda and Pilar mines in Brazil, partly offset by lower guidance at Los Filos of 210,000-225,000oz, down from 215,000-240,000oz.

AISCs are forecast at US$940-975/oz.

***

Aura Minerals reported a US$5.33mn net loss for Q2, compared to net income of US$4.24mn in the same period last year.

Revenue increased to US$45.3mn from US$44.2mn, on higher realized gold prices, while gold sales slipped to 35,738oz from 36,757oz.

At San Andrés in Honduras, gold output fell to 18,395oz from 22,856oz, due to continuing disruption by a number of residents who have occupied the site.

Aura said it is working with community leaders and authorities to end the occupation, adding it has accessed additional areas outside of the mine plan in order to continue limited operations.

The EPP mine in Brazil produced 9,993oz gold, up from 8,581oz.

***

Mexico-focused GoGold Resources recorded a Q2 net loss of US$3.63mn, compared to a loss of US$355,000 in the same period last year.

Results were impacted by an inventory net realizable value adjustment of US$3.7mn in the quarter, according to a release.

Revenue increased to US$6.29mn from US$4.65mn. GoGold sold 382,150oz silver equivalent in the period. The company has the Parral mine in Mexico.

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