Brigus Gold Reports Q2 Production Results
HALIFAX, July 9, 2013 /PRNewswire/ - Brigus Gold Corp. ("Brigus" or the "Company") (NYSE MKT: BRD; TSX: BRD) reports Q2 2013 production results from the Company's Black Fox Mine.
|Operating Results||Second Quarter 2013||Year to Date 2013|
|Tonnes per day||1,700||1,870|
|Average recovery (%)||94.3||94.1|
|Average grade (gpt)||4.97||4.85|
|Gold production (ounces)||23,304||49,620|
|Gold sold (ounces)||22,490||50,308|
|Gold price (US$/ounce)(1)||$1,382||$1,517|
|(1) Excludes the impact of sales under the Goldstream agreement|
"The second quarter production of 23,304 ounces of gold is a positive accomplishment for the Company," Said Daniel Racine, Brigus Gold's President and Chief Operating Officer. "Despite the temporary suspension of milling activities during this quarter the Company is on track to meet its original guidance of 90,000 to 100,000 ounces of gold in 2013."
Production during the quarter was impacted due to a temporary suspension of milling activities at the Black Fox Mill. As previously reported, milling operations were suspended for 20 days due to higher than normal water levels in the holding and water management facilities. Underground and open pit mining operations were not affected by the temporary mill suspension and the Company stockpiled ore which was processed once milling operations resumed.
The Company plans to release its second quarter 2013 financial results before the start of trading on Monday, August 12, 2013. Senior management will host a conference call at noon Atlantic Time (11:00 a.m. Eastern Time) on that day to discuss the second quarter results.
Analysts and other interested parties wanting to participate in the call should dial 1-877-407-8133 (international 201-689-8040) at least 10 minutes prior to the start of the call. No pass code is required. The teleconference will be recorded. If you are unable to join the teleconference live, you can dial for playback, toll-free at 1-877-660-6853 (international 201-612-7415), please use conference ID 417707. The event will be archived and available for replay until midnight on August 26, 2013. The teleconference will also be accompanied by a presentation made available on the Company's website at www.brigusgold.com.
About Brigus Gold
Brigus is a growing gold producer committed to maximizing shareholder value through a strategy of efficient production, targeted exploration and select acquisitions. The Company operates the wholly owned Black Fox Mine and Mill in the Timmins Gold District of Ontario, Canada. The Black Fox Complex encompasses the Black Fox Mine and adjoining properties in the Township of Black River‐Matheson, Ontario, Canada. Brigus also owns the Goldfields Project located near Uranium City, Saskatchewan, Canada, which hosts the Box and Athona gold deposits. In the Dominican Republic, Brigus has signed an agreement to sell its remaining interests in three mineral exploration projects. In Mexico, Brigus owns the Ixhuatan Project located in the state of Chiapas.
Cautionary and Forward‐Looking Statements
Statements contained in this news release, which are not historical facts, are forward‐looking statements that involve risk, uncertainties and other factors that could cause actual results to differ materially from those expressed or implied by such forward‐looking statements. All statements regarding the ability of the Company to achieve its production, total cash costs, steady state annual production and mining rate estimates; estimated average gold grades for the open pit and underground operations; increase in gold production; increase in profitability; exploration drill results and resource additions, are forward‐looking statements and estimates that involve various risks and uncertainties. This forward‐ looking statements include, or may be based upon, estimates, forecasts, and statements as to management's expectations with respect to, among other things, the outcome of legal proceedings, the issue of permits, the size and quality of the Company's mineral resources, progress in development of mineral properties, future production and sales volumes, capital and mine production costs, demand and market outlook for metals, future metal prices and treatment and refining charges, and the financial results of the Company.
Important factors that could cause actual results to differ materially from these forward‐looking statements include environmental risks and other factors disclosed under the heading "Risk Factors" in Brigus' most recent Annual Information Form and Management Discussion and Analysis filed under the Company's name at www.sedar.com and annual report on Form 40F filed with the United States Securities and Exchange Commission at www.sec.gov as well as elsewhere in Brigus' documents filed from time to time with the Toronto Stock Exchange, the NYSE Amex Equities, the United States Securities and Exchange Commission and other regulatory authorities. All forward‐looking statements included in this news release are based on information available to the Company on the date hereof. The Company assumes no obligation to update any forward-looking statements, except as required by applicable securities laws.
SOURCE Brigus Gold Corp.