2015 gold production guidance increased to 68,000 to 72,000 ounces Q2 gold production of 20,619 ounces, a 10% increase over Q2 2014 1H 2015 gold production of 41,686 ounces, a 39% increase over 1H 2014 Q2 2015 mill head grade of 8.88 grams per tonne, a 15% increase over Q2 2014 Increased cash and bullion (1) to $20.9 million which exceeds long-term debt
SASKATOON, July 7, 2015 /CNW/ - Claude Resources Inc. ("Claude" and or the "Company") reported second quarter 2015 gold production of 20,619 ounces, a 10% increase from the second quarter of 2014. The record breaking first half performance of 41,686 ounces of gold has resulted in the Company increasing its gold production guidance to 68,000 to 72,000 ounces in 2015 from its original guidance of 60,000 to 65,000 ounces. Over the last four quarters, the Company has produced 74,584 ounces of gold.
Brian Skanderbeg, President and CEO commented, "By following up a record first quarter with a strong second quarter, we are in a position to achieve two consecutive years of record performance. The strong production performance and grades are a result of increased contribution from the higher grade Santoy Gap deposit and from the implementation of the Alimak mining method at the Seabee Mine."
"Along with strong operating results we have remained on budget. Our financial discipline along with higher production has increased our free cash flow yield and allowed us to increase our cash and bullion (1) to $20.9 million - resulting in a positive net debt position at quarter end. Our focus has been to improve operating execution, generate free cash flow and strengthen the balance sheet; our performance over the last five quarters demonstrates that what we are doing is working and is sustainable."