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Klondex Mines Ltd. (TSX:KDX,NYSEMKT:KLDX) announced its operating results for the fourth quarter of 2015, as well as the years a whole, noting that it produced 105,893 ounces of gold and 1,605,226 ounces of silver.
Klondex Mines Ltd. (TSX:KDX,NYSEMKT:KLDX) announced its operating results for the fourth quarter of 2015, as well as the years a whole, noting that it produced 105,893 ounces of gold and 1,605,226 ounces of silver.
As quoted in the press release:
The Company also announces its 2016 production target range of 145,000-150,000 GEOs in the aggregate from its Midas Mine and Fire Creek Project, both of which are located in Northern Nevada. The Company expects its cash costs to range between $600 and $650 per GEO, and its All-in Sustaining Cost (“AISC”) to range between $850 and $900 per gold ounce. Of greater importance is the All-in Cost metric, which includes both growth and sustaining capital. The Company expects its All-in Cost to range between $950 and $1,000 per gold ounce for 2016. Additionally, the Company expects to spend $45 to $50 million on capital expenditures (“capex”), approximately 60% of which will be spent at Fire Creek, 30% at Midas, and the remaining 10% to be spent at the Midas Mill.
Paul Andre Huet, president and CEO of Klondex Mines, commented:
2015 was another important year for Klondex and our shareholders with production approximately 20% higher than the prior year. Looking ahead to a very promising 2016, we continue our focus on growing Nevada by aggressively investing in Fire Creek and maintaining steady-state at Midas. As a result, we are increasing our production target by approximately 16% over 2015, to 145,000-150,000 GEOs. Additionally, we are excited to launch our pre-production plan to rehabilitate, explore and develop our soon to be acquired Canadian asset.
Click here to read the full Klondex Mines Ltd. (TSX:KDX,NYSEMKT:KLDX) press release.