Production downgrade for Gran Colombia Gold
12th Jun 2012
JUNE 12 – Canadian Gran Colombia Gold Corp won’t make its 155,000oz gold production target for the calendar 2012 year, conceding it is now likely to be in the 115,000-135,000oz range.
Attempts to upgrade the Segovia and Marmato operations in Colombia have not gone as expected, with the Maria Dama plant at Segovia only getting up to 850-900tpd from an average 509tpd early this year in the quest for 1,500tpd. Head grades at Segovia were also down.
As a result, Gran Colombia now expects 2012 production at Segovia to be 90,000-110,000oz, with the underground mine at Marmato producing about 25,000oz to take total 2012 company production to 115,000-135,000oz.
CEO Maria Consuelo Araujo says the company remains confident of annual production of 200,000oz at Segovia by 2014.
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- UNDERGROUND
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