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Be the first with the news that moves the market- Bear Creek Mining (BCM) Friday released its latest production figures from the company’s Mercedes Mine
- The Vancouver precious metals explorer produced 12,025 ounces of gold from the mine during the first quarter
- Production at the mine amounted to 40,105 ounces of silver during the first quarter
- Production totals are in line with expected and forecasted guidance
- Bear Creek Mining (TSXV:BCM) is down 7.5 percent, trading at $0.74 at 9:13 am ET
Bear Creek Mining (BCM) Friday released its latest production figures from the company’s Mercedes Mine.
The Vancouver-based junior precious metals explorer produced 12,025 ounces of gold from the mine during the first quarter of the year.
The Mercedes Project is located in Sonora, Mexico.
Production at the mine amounted to 40,105 ounces of silver during the first quarter.
Both figures are in line with expected and forecasted guidance.
“We are pleased that Q1 2023 production from Mercedes is in alignment with our guidance for the quarter. Our foundational work, stemming from the Mercedes improvement program that concluded in January 2023, has prepared the Mercedes mine for improved production and efficient development and cost controls are being prioritized,” Bear Creek Mining President and COO Eric Caba said in a statement.
“Throughput has steadily increased over the course of the quarter, and we are on the cusp of adding higher grade ore from San Martin and Rey de Oro into the production pipeline. The anticipated net effect of these developments is an improvement in gold production in the coming quarters and particularly in the second half of 2023.”
The company expects to release full first-quarter financial results sometime next month.
Planning and development at the mine will now begin shifting towards higher-grade deposits that use cut and fill mining methods. The company expects that to lead to increased production and lower costs through the remainder of the year.
Bear Creek Mining (TSXV:BCM) is down 7.5 percent, trading at $0.74 at 9:13 am ET.
