The news feeds on this site are independently provided by Adfero Limited © and do not represent the views or opinions of the World Gold Council.

Tuesday, 25th November 2008 (1588 views)

Gammon Gold has stated that it believes that it will meet its production and cost predictions for the fourth quarter of 2008.

The Canadian mining company insists that it remains on target for the year and could deliver its best-ever production quarter in the last three months.

Gold production levels for the fourth quarter of 2008 are expected to be 39,000-49,000 ounces, based on a feasibility study at the Ocampo mine issued in November 2004, while total cash costs of below $499 (£329) per gold-equivalent ounce are expected.

Based in Halifax, Nova Scotia, Gammon Gold is a mid tier gold and silver producer with properties in Mexico, including the Ocampo project in Chihuahua State, which achieved commercial production in January 2007.

Phase I mill expansion at Ocampo was achieved in mid-November and the full impact of the successful ramp up and increased production is expected to be realised in the first quarter of 2009.

 

« Back to Gold News stories