Premier Gold Announces Positive-Restart at Mexican Gold Mine
Mining News | 2020-08-24 21:21:29
During the initial half of Q3, the mine has delivered robust operating results and cash flow.
By Paul Ploumis
SEATTLE (Scrap Monster): Premier Gold Mines Limited announced that the Mexican Mercedes Mine has been able to generate positive cash flow under its revised guidance, since it restarted operations in the month of June this year.
The operations team of the Mercedes mine had resumed mine operations under a new production plan, after two-month suspension of operations on account of Covid-19 pandemic crisis. The revised production strategy, implemented in July, focused on improved operating margins and positive cash flow. The company remains committed on continued development and mining of the Diluvio, Lupita and Lupita Extension zones, the company press release stated.
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During the initial half of Q3, the mine has delivered robust operating results and cash flow. The gold production exceeded planned levels and operating costs remained lower than planned levels. The company expressed its commitment to achieve stronger performance and operating margins. The goal is to gradually increase mill throughput to the plant capacity through continued exploration success, said Peter van Alphen, Chief Operating Officer, Premier gold Mines.
