Lake Shore's Gold output hits high end Q2 target
Mining News | 2012-08-10 08:42:26
Lake Shore Gold Corp. (TSX, NYSE MKT: LSG) said that its gold production for the second quarter totaled 24,426 ounces, reaching the high end of the company's 20,000 to 25,000 gold ounce guidance range.
By Paul Ploumis
VANCOUVER (Scrap Monster): Lake Shore Gold Corp.(TSX, NYSE MKT: LSG) said thai its gold production for the second quarter totaled 24,426 ounces, reaching the high end of the company’s 20,000 to 25,000 gold ounce guidance range.
Cash operating costs totaled $849 per ounce produced which also fell into the expected range of $825-$875.
Tony Makuch, president and chief executive officer of Lake Shore stated that, "We performed well against our targets during the second quarter. In fact, our strong second quarter results represent the third consecutive quarter that we have met or exceeded our production targets.”
According to the Company, cash earnings from mine operations rose to $16.8 million compared to $2.6 million during the same period last year. Production during the second half of the year is expected to increase from the first half level leading to full-year production within the previously announced target range of 85,000 to 100,000 ounces.
Lake Shore is a Canadian-based mining company focused on mining in Ontario’s Timmins Gold District.
