Golden Minerals Company (NYSEAMERICAN:AUMN) (TSE:AUMN) (FRA:7GB) has announced second-quarter 2021 production of 3,634 gold equivalent ounces, consisting of 3,452 gold ounces and 12,323 ounces of silver, from its Rodeo gold-silver mine in Mexico.
The output represented the company’s first full quarter of production, increasing by 133%, or 2,075 gold equivalent ounces, from 1Q 2021.
“We completed the planned ramp-up of production during the second quarter, and after the regrind mill was installed at the end of April, plant throughput averaged over 500 tonnes per day in May and June combined,” Golden Minerals Company CEO Warren Rehn said in a statement.
READ: Golden Minerals is well on its way to profitable mining production in 2021
“The company remains on track to achieve our production guidance of between 12,000-14,000 ounces of gold and 25,000-30,000 ounces of silver for full year 2021,” Rehn added.
As well, Golden Minerals noted its average gold grade processed during the second quarter increased to 3.6 grams per tonne (g/t) gold from 3.0 g/t in 1Q.
The company added that production began at Rodeo in January 2021, with a second ball mill installed and operating at the end of April, which enabled it to easily exceed its targeted processing rate of 450 tonnes per day, Golden Minerals said. It is targeting gold recovery of 85% at Rodeo, as indicated in its metallurgical test results.
Golden Minerals is an emerging gold‐silver producer that holds or controls about a dozen precious metals projects in Mexico, Argentina and Nevada.
Contact Sean at sean@proactiveinvestors.com