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San Gold Corporation (TSX:SGR,OTCQX:SGRCF) announced Q1 results from its Rice Lake Mining Complex in Manitoba.
San Gold Corporation (TSX:SGR,OTCQX:SGRCF) announced Q1 results from its Rice Lake Mining Complex in Manitoba.
As quoted in the press release:
San Gold produced 17,354 ounces of gold in the first quarter. The operation mined 143,859 tons of ore at an average daily rate of 1,598 tons per day and milled 156,013 tons in the quarter at an average daily throughput of 1,733 tons per day, similar rates to the first quarter of 2012. Mill recovery was 91.9% and milled grade was 4.15 grams per tonne.
San Gold’s CEO and COO, Ian Berzins, said:
Following the recent restructuring, the Company is in the process of implementing reductions to its operating, capital, corporate overhead, and exploration costs as well as evaluating investments that do not directly contribute to the Company’s core operations. Our focus will be to optimize margins per ounce and ensure we are on the most direct path to achieving free cash flows.
To view the whole press release, click here.Â
