Torex Gold's Mexico mine output beats expectations
Torex Gold's El Limón-Guajes mine in Mexico produced 29,995oz gold in May, compared with 19,900oz in April.
The US$800mn Guerrero state mine, which began commercial production in March, produced 38,161oz in the first quarter.
May production was lifted by higher-than-expected grades and tonnage, with throughput ahead of plan averaging 11,468t/d, or 82% of design capacity in May.
Average gold recovery for the month was below expectations at 75% on account of an undiagnosed failure of equipment and a lack of accuracy in the measurement of cyanide concentrations. Both issues have been corrected, the firm said in a statement.
Recovery improved to 87.6% in the first week of June. Year-to-date production is 92,460oz.
El Limón-Guajes is expected to produce 275,000oz gold this year and 383,000oz in 2017. Torex last month announced a reduction in mine life to 8.5 from 10 years. The company also has the Media Luna project on the same land package.
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