Premier Gold Mines Announced Robust Gold Output in Third Quarter of 2020

SEATTLE (Scrap Monster): Premier Gold Mines Limited announced strong production results for the third quarter of 2020. Both of the company’s operating mines- Mercedes Mine, Mexico and South Arturo Mine, Nevada released robust outcomes. The consolidated gold production for the quarter exceeded 19,000 ounces, thus meeting the high-end of its expectations.

The production from the 100%-owned Mercedes Mine in Mexico reached 12,183 ounces. The ore production and processing had resumed in July, following suspension of operations at the mine during the second quarter on account of the pandemic. Extensive technical works were carried out during this period. In addition, the mine has reported significant progress with respect to cost-reduction initiatives, which will be reflected in the unit operating costs, the company noted.

ALSO READ: Premier Gold Mines to Spin-off its Nevada Mine Properties

Ewan Downie, Chief Executive Officer of Premier noted that the modified mine plan at Mercedes has resulted in significantly enhanced cash flow.

The 40%-owned South Arturo joint venture with Nevada Gold Mines reported strong quarterly production of 7,096 ounces, thereby surpassing its annual production plan. The company will continue to advance additional development opportunities at the mine.

The full financial results for Q3 this year will be released on November 4, 2020.