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GRAN COLOMBIA PROVIDES AN UPDATE ON COVID-19

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GRAN COLOMBIA PROVIDES AN UPDATE ON COVID-19

 

 

 

 

 

Gran Colombia Gold Corp. (TSX: GCM) (OTCQX: TPRFF) announced that it is continuing to monitor the impact of the novel COVID-19 virus globally. To date, COVID-19 has not impacted production or product shipments at any of the Company’s sites nor has there been any significant negative impact on, or disruption of, the Company’s supply chain. However, the Company has activated its business continuity program at its mine sites in Colombia in response to a national quarantine announced on March 21, 2020 by the Colombian Government that is expected go into effect on March 25, 2020 and continue through to April 13, 2020.

 

Commenting on the situation, Lombardo Paredes, Chief Executive Officer of Gran Colombia, stated, “We have activated our business continuity programs at Segovia and Marmato in light of the forthcoming national quarantine. We expect that our mines will continue to operate during the quarantine period, leveraging stockpiled material and supported by a contingent of employees, both Company and contractor, who will remain isolated within the mine camps during the quarantine period to carry out mine, plant and other operations. Throughout this situation, we have been maintaining strict measures and we are leveraging the experience we gained during the 42-day civil disruption at Segovia in 2017 to ensure we keep our operations going. While we have a strong balance sheet, we have taken steps to slow down non-discretionary operating and capital expenditures to preserve our liquidity during this unusual situation. We are also working closely with the Mayors of Segovia, Remedios and Marmato to provide aid required by the local communities during the quarantine period.”

 

Gran Colombia will continue to monitor developments in the situation and revise its response plans accordingly.

 

About Gran Colombia Gold Corp.

 

 

Gran Colombia is a Canadian-based mid-tier gold producer with its primary focus in Colombia where it is currently the largest underground gold and silver producer with several mines in operation at its high-grade Segovia Operations. Gran Colombia owns approximately 74% of Caldas Gold Corp., a Canadian mining company currently advancing a prefeasibility study for a major expansion and modernization of its underground mining operations at its Marmato Project in Colombia. Gran Colombia’s project pipeline includes its Zancudo Project in Colombia together with an approximately 21% equity interest in Gold X Mining Corp. (TSX-V: GLDX) (Guyana – Toroparu) and an approximately 20% equity interest in Western Atlas Resources Inc. (TSX-V: WA) (Nunavut – Meadowbank).

 

Posted March 23, 2020

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