Brigus Gold Reports Q3 Production Results
HALIFAX, Oct. 8, 2013 /PRNewswire/ - Brigus Gold Corp. ("Brigus" or the "Company") (NYSE MKT: BRD; TSX: BRD) reports Q3 2013 production results from the Company's Black Fox Mine.
Q3 Production Highlights:
- Record quarterly production of 27,174 ounces of gold, 76,799 ounces of gold year to date
- Sold 28,344 ounces of gold, 78,652 ounces of gold year to date
- Average grade of 4.34 gpt and average recovery of 94%
- Record throughput of 2,256 tonnes per day milled, 207,559 tonnes milled for the quarter
- Average realized gold price of $1,330 (Excludes the impact of sales under the Goldstream agreement)
"Our year-to-date results leave us well-positioned to deliver on our 2013 production guidance target." said Daniel Racine, Brigus Gold's President & Chief Operating Officer. "During the third quarter, our Black Fox mine achieved record production of 27,174 ounces of gold, further highlighting the potential of the Black Fox operation. We remain focused on disciplined capital spending and maintaining our excellent safety record."
The Company plans to release its third quarter 2013 financial results after market hours on Tuesday, November 12, 2013. Senior management will host a conference call at noon Atlantic Time (11:00 a.m. Eastern Time) on Wednesday, November 13th to discuss the third 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 100499. The event will be archived and available for replay until midnight on November 27, 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.