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Klondex Reports 2017 Production Results and Provides 2018 Guidance; Announces Postponement of Investor Day
Feb. 02, 2018 08:58AM PST
Gold Investing
Klondex Mines (TSX:KDX) (NYSE American:KLDX) (“Klondex” or the “Company”) reported today its preliminary operating results for the fourth quarter and full-year 2017. Mr. Paul Huet, the Company’s President and CEO commented: “2017 was a year of progress and learning for Klondex. The Company produced more ounces than any year in the Company’s history, 28,000 GEOs …
Klondex Mines (TSX:KDX) (NYSE American:KLDX) (“Klondex” or the “Company”) reported today its preliminary operating results for the fourth quarter and full-year 2017.
Mr. Paul Huet, the Company’s President and CEO commented:
“2017 was a year of progress and learning for Klondex. The Company produced more ounces than any year in the Company’s history, 28,000 GEOs or 17% more than last year. Our core operations, Fire Creek and Midas, continue to perform well, as expected. However, we were not successful in delivering on our overall Company plan. Integrating our two recently developed assets, Hollister and True North, simultaneously was more challenging than we thought it would be.
The processing of Hollister ore through the Midas mill was delayed during the year as we work to improve ore recoveries, which resulted in production delays and a stockpile accumulation. In addition, we were not able to deliver on our plans at True North and had to make a difficult decision there, placing mining operations on care and maintenance.”