Golden Minerals Company (NYSE-A:AUMN, TSX:AUMN, ETR:7GB) has announced a 38% sequential increase in its third-quarter 2021 payable production to 4,942 gold equivalent ounces from its Rodeo gold-silver open pit mine in Mexico, consisting of 4,777 gold ounces and 12,196 ounces of silver.
As well, the company said its average gold grade processed in 3Q increased to 4.0 grams per tonne (g/t) from 3.6 g/t during 2Q.
“3Q was the first quarter of full production for Rodeo and the mine has exceeded expectations in terms of gold ounces produced,” Golden Minerals Company (NYSE-A:AUMN, TSX:AUMN, ETR:7GB) CEO Warren Rehn said in a statement.
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“Given the excellent results this quarter, I expect we will close the year at the high end of our production guidance,” Rehn added.
Golden Minerals also reaffirmed its 2021 annual production guidance of between 12,000 and 14,000 ounces of gold and 25,000 to 30,000 silver ounces.
The company added that mill throughput in 3Q averaged 532 tonnes per day (tpd) compared to 427 tpd during the second quarter 2021.
Golden Minerals has a strong pipeline of exploration projects that it plans to advance using the cash flow generated from its Rodeo and Velardeña operations. The company owns the El Quevar silver property in Argentina and is advancing mining properties in Mexico, Nevada, and Argentina.
Contact Sean at sean@proactiveinvestors.com