Thursday, September 18th14.0°C
19716
20950

Detour Gold's new mine misses first-year production goal due to shutdown

TORONTO - Detour Gold Corp.'s mine in northeastern Ontario fell short of its production target in the first year of operation.

The company (TSX:DGC) says an unexpectedly long shutdown in December had a significant impact on its output, which was about three per cent below the lower end of its guidance.

It says output at the Detour Lake open pit mine has since returned to the levels achieved before the shutdown, which was 15 days longer than expected due to a problem at its mill.

Detour Gold says it produced 232,387 ounces last year, which was below the lower end of the company's guidance of 240,000 ounces.

It sold about 212,522 ounces during the year at an average realized price of US$1,318 per ounce.

Despite the shortfall, the miner says it ended 2013 with about $596 million of cash and short-term investments, which was more than projected.

The Canadian Press


Read more Business News

21097


Recent Trending




Today's Market
S&P TSX15465.54+6.66
S&P CDNX965.79-6.72
DJIA17265.99109.14
Nasdaq4593.426+31.237
S&P 5002011.36+9.79
CDN Dollar0.9129-0.0014
Gold1223.40-3.50
Oil92.92-0.15
Lumber349.00+1.00
Natural Gas3.96-0.015

 
Okanagan Companies
Pacific Safety0.16-0.005
Knighthawk0.01-0.005
QHR Technologies Inc1.32+0.07
Cantex0.060.00
Anavex Life Sciences0.2261-0.01
Metalex Ventures0.060.00
Russel Metals37.01+0.64
Copper Mountain Mining2.68-0.05
Colorado Resources0.175+0.005
ReliaBrand Inc0.024-0.003
Sunrise Resources Ltd0.02-0.005
Mission Ready Services0.30+0.01

 



22784

FEATURED Property
2068508584 Spruceview Pl N
5 bedrooms 3 baths
$529,000
more details
image2image2image2
Click here to feature your property
Please wait... loading


Executors and their duties

There will be a time when you will need to decide who you should appoint as executor of your Will. As well, there may be a time when you will be asked by someone to act as the executor of his or her W...


Power-save your way to a down payment

Part 1 of 2 Photo: Thinkstock.com1. Move in with your parents or in-laws Explain that you're thinking strategically in moving back home. The quickest way to get into the housing market is to ma...


Price Guarantees

Article written by Linda Bustos Though I’d never recommend “lowest prices” as a unique selling proposition, I notice many retailers use a Price Match Guarantee or even a 110% Guara...

_








Member of BC Press Council


22962