The Prospector News

GCM Mining Reports First Quarter 2022 Production; Declares May 16, 2022 Monthly Dividend

You have opened a direct link to the current edition PDF

Open PDF Close
Uncategorized

Share this news article

GCM Mining Reports First Quarter 2022 Production; Declares May 16, 2022 Monthly Dividend

 

 

 

 

 

GCM Mining Corp. (TSX: GCM) (OTCQX: TPRFF) announced that it produced a total of 16,293 ounces of gold in March 2022 at its Segovia Operations bringing the total for the first quarter of 2022 to 49,951 ounces compared with 49,058 ounces from Segovia in the first quarter of 2021. In the first quarter of 2022, the Company also produced 89,782 ounces of silver at Segovia, up from 57,315 ounces of silver in the first quarter last year, together with approximately 252,000 pounds of zinc and 338,000 pounds of lead. Consolidated gold production of 51,486 ounces in the first quarter last year also included 2,428 ounces from Marmato up to February 4, 2021, the date of the loss of control of Aris Gold Corporation.

 

GCM Mining’s trailing 12-months’ total gold production at the end of March 2022 was 207,282 ounces, up about 0.4% over last year. The Company remains on track to meet its 2022 annual production guidance of 210,000 to 225,000 ounces of gold.

 

GCM Mining processed a total of 52,292 tonnes in March 2022 at its Maria Dama plant at Segovia, representing a daily processing rate of 1,687 tonnes per day (“tpd”), compared with 48,518 tonnes and 1,565 tpd in March 2021. Segovia’s head grades averaged 10.8 g/t in March 2022 compared with 13.3 g/t in March last year. For the first quarter of 2022, a total of 142,819 tonnes, equivalent to 1,587 tpd, were processed at Segovia at an average head grade of 12.1 g/t compared with a total of 132,289 tonnes, equivalent to 1,470 tpd, at an average head grade of 12.8 g/t in the first quarter last year.

 

The Company’s polymetallic plant at Segovia operated for 86 days in the first quarter of 2022 processing an average of approximately 103 tpd of tailings resulting in the production of approximately 307 tonnes of zinc concentrate and approximately 279 tonnes of lead concentrate. The concentrate production is being stockpiled as the Company finalizes discussions currently in process for offtake contracts. Payable production from the concentrates in the first quarter of 2022 is estimated to total approximately 252,000 pounds of zinc, 338,000 pounds of lead, approximately 27,800 ounces of silver and less than 100 ounces of gold. Actual payable quantities are subject to change and will be finalized once the concentrates are shipped.

 

Monthly Dividend Declaration

 

GCM Mining announced today that its Board of Directors has declared the next monthly dividend of CA$0.015 per common share will be paid on May 16, 2022 to shareholders of record as of the close of business on April 29, 2022.

 

About GCM Mining Corp.

 

GCM Mining is a mid-tier gold producer with a proven track record of mine building and operating in Latin America. In Colombia, the Company is a leading high-grade underground gold and silver producer with several mines in operation at its Segovia Operations. Segovia produced 206,389 ounces of gold in 2021. In Guyana, the Company is advancing its fully funded Toroparu Project, one of the largest undeveloped gold/copper projects in the Americas, which is expected to commence production of more than 200,000 ounces of gold annually in 2024. GCM Mining pays a monthly dividend to its shareholders and has equity interests in Aris Gold Corporation (~44%; TSX: ARIS; Colombia – Marmato, Soto Norte; Canada – Juby), Denarius Metals Corp. (~29%; TSX-V: DSLV; Spain – Lomero-Poyatos and Colombia – Guia Antigua, Zancudo) and Western Atlas Resources Inc. (~26%; TSX-V: WA: Nunavut – Meadowbank).

 

Posted April 18, 2022

Share this news article

MORE or "UNCATEGORIZED"


Outcrop Silver Intersects 3.05 Metres True Width of 3,975 Grams Equivalent Silver per Tonne Including 0.63 Metres of 16,690 Grams Equivalent Silver per Tonne at Santa Ana

Outcrop Silver & Gold Corporation (TSX-V: OCG) (OTCQX: OCGSF... READ MORE

January 30, 2023

ALPHAMIN ANNOUNCES RECORD ANNUAL TIN PRODUCTION AND EBITDA GUIDANCE/ DECLARATION OF FINAL FY2022 DIVIDEND

Alphamin Resources Corp. (TSX-V:AFM) (JSE AltX:APH) a producer of... READ MORE

January 30, 2023

Patriot drills 52.2 m of 3.34% Li₂O, including 15.0 m of 5.10% Li₂O, in Easternmost Drill Hole from the 2022 Drill Campaign at the CV5 Pegmatite, Quebec, Canada

Highlights Significant Drill Intercepts High-grade lithium minera... READ MORE

January 30, 2023

Revival Gold Intersects 1.5 g/t Gold Over 15.8 Meters and 1.07 g/t Gold Over 18.0 Meters in Near-Surface Oxides at Haidee

Revival Gold Inc. (TSX-V: RVG) (OTCQX: RVLGF) is pleased to... READ MORE

January 30, 2023

SABRE GOLD ANNOUNCES SALE OF ROYALTY FOR US$7 MILLION

Sabre Gold Mines Corp. (TSX: SGLD) (OTCQB: SGLDF) announces the s... READ MORE

January 30, 2023

We acknowledge the [financial] support of the Government of Canada.

Government of Canada Supported
Copyright 2023 The Prospector News