TORONTO Jan 14 2020 GLOBE NEWSWIRE Torex Gold Resources Inc the Company or Torex TSX TXG expects to produce between 420 000 and 480 000 ounces of gold in 2020 with the mid point of guidance relatively in line with the 454 810 ounces of gold produced in 2019 Total cash costs1 are expected to range between 640 and 670 per ounce of gold sold All in sustaining costs1 are anticipated to range between 900 and 960 per ounce of gold sold.
In 2020 we expect our El Limn Guajes mine to deliver a similar production result to the record performance achieved in 2019 This level of production with continuing strength in the gold market positions the Company to deliver another year of strong operating cash flow which we expect to direct towards advancing Media Luna testing Muckahi and reducing outstanding debt.
Cost guidance has increased relative to 2019 performance due largely to a change in accounting for stockpile inventory for open pit and underground ore A second factor is an expected continuation of elevated soluble iron in the ores to be processed Soluble iron increases reagent costs and while we are trialing new methods to reduce reagent consumption we expect the levels of soluble iron in feed that occurred in the latter half of 2019 to continue through 2020.
The increase in all in sustaining cash cost guidance reflects the factors noted above as well as investments in the plant required to sustain production through to and including the development of Media Luna.
The strip ratio for 2020 is expected to be 6 81 with approximately 55 of mined waste rock expensed and the remainder capitalized.
Jacobina Mine Tour Video Presentation October 2019 The Jacobina operation located in Bahia state in northeast Brazil consists of a complex of underground gold mines and a 6 500 tonnes per day tpd carbon in pulp processing plant In 2014 the Company.
250 km southwest of Ouagadougou the capital city of Burkina Faso Mine Attributes Mining Method Open pit Owner Mining Processing 3Mtpa Gravity CIL plant Gold Recovery 93 2019A Expected Mine Life 10 years 2020 Key Catalysts Q1 2020 Maiden reserves for Kari West and Kari Center discoveries.
Nevada based Cycladex has completed scale up trials of its cyanide free gold recovery process in Arizona with Triple 7 Mining and the partners now plan to build a small modular processing plant The plant will be able to process approximately 15 td of ore.
Island Gold is a high grade low cost underground gold mine in Northern Ontario It is a long life operation with a large Mineral Reserve and Resource base that has grown significantly since 2015 through ongoing exploration success A Phase I expansion of the operation was completed in 2018 taking underground mining and milling rates to 1 100 tpd.
Apr 24 2019nbsp018332Evolution Mining approved a 60 million investment for three projects at the Mt Carlton mine in October 2018 The projects include an underground development a stage four pit cut back and plant.
Teranga Gold Reported an updated life of mine LOM plan and updated guidance for its Wahgnion mine Once the operation achieved commercial production in late 2019 the processing plant has been operating 25 above nameplate capacity resulting in higher output.
Dec 19 2017nbsp018332The two mines are being developed by T252mad a subsidiary of the Turkish conglomerate Nurol Holding The company is one of the first locally owned private investors to start up a gold mine in Turkey Turkey is the largest gold producer in Europe and the Mediterranean and is among the top five largest gold importers globally.
Sep 03 2019nbsp018332Greece grants Eldorado permits for gold mine 320 pm Exploration Intelligence Europe Copper Gold Construction of processing plant at Skouries Its planned investment in Greece has been.
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