Golden Queen Provides a Project Update

Gold Investing

Golden Queen Mining (TSX:GQM) has provided an update of its operations at its 50 percent owned Soledad Mountain gold-silver project located in  California. As quoted in the press release: The Company is pleased with the commissioning progress at Soledad Mountain. Recent highlights include: May production was approximately 1,260 oz of gold and 15,000 oz of …

Golden Queen Mining (TSX:GQM) has provided an update of its operations at its 50 percent owned Soledad Mountain gold-silver project located in  California.
As quoted in the press release:

The Company is pleased with the commissioning progress at Soledad Mountain. Recent highlights include:

  • May production was approximately 1,260 oz of gold and 15,000 oz of silver, totaling approximately 2,370 oz of gold and 26,000 oz of silver since the inaugural pour;
  • Mining and processing activities are now operating 7 days per week;
  • Agglomerate quality continues to be excellent. Porosity and permeability of the heap-leach pad remain extremely high;
  • The High Pressure Grinding Rolls (HPGR) performance is exceeding expectation, with 70% to 75% of the output passing ¼ inch;
  • There are 140 full-time employees on site; and
  • Safety remains a high priority and there have been no lost-time accidents since operations began.

The Company anticipates achieving commercial production in the second half of 2016. In accordance with US GAAP, the Company expects to begin recognizing revenues and expenses related to the sale of metals in the second quarter of 2016.

Click here to read the full press release.

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