Premier Gold Announces Production Results for Q1 2020

SEATTLE (Scrap Monster): Premier Gold Mines Ltd. announced production results for the first quarter of 2020. The company reported strong production from South Arturo. The El Nino mine reported the strongest quarter.

The consolidated quarterly production totalled 18,317 ounces of gold and 52,832 ounces of silver. A total of 7,489 ounces of gold was recovered from South Arturo. This includes 6,730 ounces from the El Nino underground mine. The production at the Mercedes Mine totalled 11,587 ounces. The production was impacted by mining disruptions due to COVID-19 pandemic. The mine was placed on care and maintenance mode effective 30th March, 2020, following government order.

ALSO READ:

Eldorado Gold to Restart Operations at Quebec Mine

Barrick Gold to Invest $10 Million in Dominican Republic

Ewan Downie, Chief Executive Officer, Premier Gold noted that South Arturo reported strong quarter exceeding the company’s expectations. Multiple mining operations have helped the company to operate with reasonable success during these difficult times. The mining activities at South Arturo have not faced significant interruption till date, Downie added.

The company recently offered to acquire the remaining 50% interest in Greenstone Gold Mines Partnership from Centerra Gold Inc. for total consideration of nearly $205 million.

Premier Gold Mines Ltd. will release the quarterly financial results on May 6, 2020.