Another NR
posted on
Jan 13, 2016 09:00AM
"Friendly aquisition" of Prodigy Gold (Oct. 2012) / > 100k ounces in 2012
How about giving us the 40 + million? I could difinitely use some of it about now.
2016 Guidance of 130,000-140,000 Gold Equivalent Ounces of Production at a Cash Cost of $750-$800
Toronto, Ontario – (January 13, 2016) Argonaut Gold Inc. (“Argonaut”, “Argonaut Gold” or the “Company”; TSX: AR) announced today that it had produced 30,399 gold equivalent ounces (“GEO” or “GEOs”; calculated at conversion ratios set out below) during the fourth quarter ended December 31, 2015. This included 16,731 GEOs at its 100% owned El Castillo Mine (“El Castillo”) located in the State of Durango, Mexico and 13,668 GEOs at its 100% owned La Colorada Mine (“La Colorada”) located near Hermosillo, Mexico.
4th Quarter | Change | Full Year | Change | |||
2015 | 2014 | 2015 | 2014 | |||
Total Gold Equivalent Ounce Production: | ||||||
GEOs loaded to the pads1 | 55,769 | 62,823 | ↓11% | 214,662 | 241,656 | ↓11% |
GEOs projected recoverable ounces1,2 | 28,823 | 38,093 | ↓24% | 119,256 | 140,563 | ↓15% |
GEOs produced ounces1 | 30,399 | 44,312 | ↓31% | 139,059 | 136,706 | ↑2% |
GEOs ounces sold1 | 29,337 | 41,172 | ↓29% | 136,874 | 132,976 | ↑3% |
1 GEOs are based on conversion ratio of 55:1 for silver to gold ounces and is the referenced ratio for the 2015 results
2 Recoverable ounces – El Castillo expected recovery rates: ROM oxide 50%, crushed oxide 70%, ROM transition 40%, crushed transition 60%, crushed sulphides argillic 30% and crushed sulphides silicic 17%; La Colorada expected recovery rates: gold 60% and silver 30%.