03:41 PM EST, 11/08/2017 (MT Newswires) -- Sage Gold (SGX.V) edged up to $0.18, for a 2.9% gain from the previous close, after it said Wednesday that first gold production at its Clavos mine was confirmed by McEwen Mining (MUX.TO), with which the company has a toll milling agreement. MUX was trading at $2.54 on last look for a slight 0.4% gain.

Mineralized material that was processed from the first bulk sample mill run at the Stock mill in Timmins, Ontario, located 10 kilometers from Clavos, yielded about 476 ounces of gold.

In a statement, Sage Gold also said that the Clavos mine complex has been connected to grid power. This ends the usage of diesel gensets as an exclusive source of electrical power, which has slowed down progress in all areas, including dewatering, drilling, and mining.

Price: 0.18, Change: +0.005, Percent Change: +2.9