ATLANTIC REPORTS Q1 2018 FINANCIAL RESULTS

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Overig advies 23/05/2018 17:28
FIRST QUARTER PRODUCTION OF 18,183 OUNCES
CASH COSTS CAD $549/OZ (USD $428/OZ @0.78 USD/CAD)
AISC CAD $751/OZ (USD $586/OZ @0.78 USD/CAD)
ON TRACK TO MEET ANNUAL PRODUCTION AND COST GUIDANCE
MARYSE BÉLANGER APPOINTED AS PRESIDENT
May 23, 2018
Canadian dollars unless otherwise noted
Vancouver, British Columbia – Atlantic Gold Corporation (TSX-V: AGB) ("Atlantic" or the "Company") is pleased to announce its operational and financial results for the first quarter of 2018. The Company’s Moose River Consolidated Gold Mine (“MRC”) produced 18,183 ounces (17,187 ounces sold in the quarter) at an all-in sustaining cost (“AISC”) (see “Non-IFRS Performance Measures”) of CAD $751 per ounce (USD $586/oz. @ 0.78 USD/CAD). Commercial production at MRC was declared on March 1, 2018.
The Company is on track to deliver on its annual guidance of producing 82,000 - 90,000 ounces at a cash cost (see “Non-IFRS Performance Measures”) of CAD $500 - CAD $560 per ounce and an AISC between CAD $675 - CAD $735 per ounce. The Company previously released its gold production and revenue for the first quarter of 2018 (see news release dated April 13, 2018).
The Company is also pleased to announce the appointment of Maryse Bélanger as President of the Company, in addition to her role as Chief Operating Officer with immediate effect.
Other milestones achieved during the quarter include:
• On January 29, 2018, the Company announced the results of the Phase 2 Life of Mine Expansion Pre-Feasibility Study in accordance with National Instrument (“NI”) 43-101 which identified Mineral Reserves at Fifteen Mile Stream and Cochrane Hill deposits.

• Completion of the Phase 3 Expansion drilling program at Fifteen Mile Stream and Cochrane Hill which is designed to target extensions of mineralization and define and upgrade inferred resources not included in the Company’s Pre-Feasibility Study (see news releases dated January 29, 2018 and March 15, 2018).
Throughout 2018, the Company will continue to focus on the following:
• Producing 82,000 - 90,000 ounces from Touquoy in 2018 at a cash cost of $500 - $560 per ounce (US$400 – US$448 per ounce assuming an exchange rate of CAD$0.80), and an AISC between $675 and $735 per ounce (US$540 – US$588 per ounce, assuming an exchange rate of CAD$0.80).
• Progressing the Company’s phase 4 regional diamond drilling program which commenced in April 2018, designed to systematically explore the corridor of prospective structure targeting the Company’s disseminated style gold deposit model amenable to open pit mining.
• Progressing and seeking approval of the Environmental Impact Statement for Beaver Dam
• Preparation of the Fifteen Mile Stream and Cochrane Hill Environmental Impact Statements, with submissions expected in Q4 2018 and Q1 2019.
• Achieving the Company’s Q2 2018 production guidance for MRC being between 21,000 to 22,000 ounces

see and read more on
http://www.atlanticgoldcorporation.com/_resources/news/nr_2018_05_23.pdf



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