Roundup: Primero, Hecla, Great Panther results
Toronto-based Primero Mining reported a second quarter net loss of US$19.4mn compared with a net loss of US$6.7mn in the same period of 2015.
Primero reported production of 49,499oz gold equivalent in Q2, compared to 62,490oz in 2Q15.
The figure includes 28,978oz at San Dimas, and 15,172oz from Black Fox, the latter a 37% improvement over 1Q16, according to a results statement.
***
Hecla Mining produced 1.26Moz silver and 9,482oz gold at its San Sebastián mine in Mexico in Q2.
Total production was 4.24Moz silver and 62,965oz gold, at cash costs of US$3.80/oz silver and US$601/oz gold. Hecla also has mines in the US and Canada.
The company recorded a net profit of US$24.1mn, compared to a net loss of US$26.7mn in 2Q15.
***
Great Panther Silver reported a Cdn$1.74mn (US$1.34mn) Q2 net loss, compared to a Cdn$4.72mn net loss in the prior-year period, according to an earnings release.
Revenue increased to Cdn$25.6mn from Cdn$19.2mn, while all-in sustaining costs decreased 43% to US$7.19/oz silver, mainly because of a reduction in cash costs.
Great Panther has the Guanajuato mine complex and Topia mine in Mexico.
***
B2Gold recorded a US$11.8mn net loss in Q2, compared to a US$22.8mn net loss in the same period of 2015.
Consolidated gold revenue was a quarterly record US$165mn, up from US$137mn, due to a 14% increase in gold sales volume and a 6% increase in the average realized gold price. All-in sustaining costs (AISC) declined 31% to US$731/oz gold.
B2Gold also has mines and projects in Namibia and Mali. The company is seeking to sell its stake in the Gramolote project, Colombia.
***
Toronto's McEwen Mining posted net income of US$8.4mn in Q2, compared with a net loss of US$14.1mn a year before, it said in a release.
The company reported Q2 output and sales of 39,555oz and 34,373/oz gold equivalent, respectively.
McEwen has the El Gallo and El Gallo 2 projects in Mexico, the San José mine and the Los Azules copper deposit in Argentina and the Gold Bar project in the US.
***
Canadian miner IAMGOLD posted adjusted net earnings of US$5.9mn in the second quarter compared to an adjusted loss of US$30.8mn a year earlier.
Gold sales decreased 4.10% in Q2 to 187,000oz, while attributable production was down 2.48% to 197,000oz, the company said in a quarterly release.
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News in: Mining & Metals (Mexico)
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