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Tahoe Resources Inc. (TSX:THO,NYSE:TAHO) announced 2014 production results from its Guatemala-based Escobal mine, also noting that in 2015 it expects to put out 18 to 21 million ounces of silver.
Tahoe Resources Inc. (TSX:THO,NYSE:TAHO) announced 2014 production results from its Guatemala-based Escobal mine, also noting that in 2015 it expects to put out 18 to 21 million ounces of silver.
As quoted in the press release:
The Escobal mine concluded its first year of commercial operations producing 20.3 million ounces (moz) of silver contained in concentrates recovered from 1.246 million tonnes of ore at an average grade of 585 grams per tonne (gpt). Fourth quarter mill throughput averaged 3,474 tonnes per day (tpd) and silver grade averaged 585 gpt resulting in 5.23 moz of silver.
Year-end production was particularly strong, resulting in a December surplus of unsold concentrates, increasing normal inventory by approximately one million silver ounces. This inventory surplus will be sold to customers in the first quarter of 2015.
Kevin McArthur, president and CEO of Tahoe, commented:
Our first year of production started on time and met all of our expectations. We finished the year at the high end of our 2014 production guidance, met our cost goals for the year and are starting the new year with very strong sales in an improving silver-price environment.
Total silver production in 2015 will rely on mid-year completion of the expansion, which remains on track.
Click here to read the full Tahoe Resources Inc. (TSX:THO,NYSE:TAHO) press release.