Lake Shore Gold Expects to Meet or Exceed Top End Production Guidance

Lake Shore Gold Corp. (TSX:LSG,NYSE MKT:LSG) announced its results for the three months and nine months ended September 2014. The company reported strong production growth for those periods, year over year.

As quoted in the press release:

A total of 45,600 ounces of gold was produced in Q3/14, an increase of 58% from Q3/13. Mill throughput during Q3/14 totaled 320,800 tonnes (approximately 3,490 tonnes per day) at an average grade of 4.6 grams per tonne with average mill recoveries of 96.7%. The Company poured 44,900 ounces of gold during the quarter, while gold sales totaled 45,500 ounces at an average selling price of US$1,284 per ounce ($1,397 per ounce). The Company’s cash and bullion totaled approximately $67.0 million at September 30, 2014.

Lakeshore president and CEO, Tony Makuch, said:

With total production of 142,500 ounces to the end of September, we are well positioned to produce at least 180,000 ounces of gold this year. In addition to continued strong operating results, we are working to grow value by drilling to extend mine life at our operations and by advancing our projects and exploration properties. We recently announced encouraging drill results at Bell Creek, which highlighted the significant potential to add to the mine’s reserve base. We have also been doing metallurgical work at both Fenn-Gib and Gold River, and have recently resumed surface drilling at our 144 property, a high-potential exploration target adjacent to the Timmins West Mine’s Thunder Creek Deposit.

Click here to read the Lake Shore Gold Corp. (TSX:LSG,NYSE,MKT:LSG) press release