QMX Gold Corporation Hits Upper End of Production Guidance with 2012 Production of 20,100 Ounces

QMX Gold Corporation (TSX:QMX, OTCQX:QMXGF) announced that they produced approximately 4,000 ounces of gold  in Q4 2012 from its Lac Herbin Mine in Val D’Or, Quebec.

As quoted in the press release:

The Company achieved its 2012 production guidance of between 18,500 to 20,500 by producing 20,100 ounces of gold from the Lac Herbin Mine. Additionally, the fourth quarter results are in line with 2012 budget numbers. Full financial results, including cash costs for 2012 will be released as part of the year-end disclosures expected in March.

QMX’s President and CEO, Francois Perron, said:

The recovery rates at the Aurbel Mill did slip somewhat in the fourth quarter mostly due to changes in the ore grade; however, further improvements in the mill have been identified and corrective measures have been taken, and we are already seeing improvements in our January recoveries.

To view the whole press release, click here.