- GCM’s (GCM) Segovia operations in Colombia produced 18,507 ounces of gold in May 2022
- The figure is up from 17,936 ounces in May of last year
- The company is preparing for initial concentrate shipments under its offtake contract scheduled for the end of this month
- It will pay its next monthly dividend of C$0.015 on July 15, 2022
- GCM Mining is a mid-tier gold producer building and operating in Latin America
- GCM Mining (GCM) is up by 1.6 per cent trading at $3.82 per share
GCM’s (GCM) Segovia operations in Colombia produced 18,507 ounces of gold in May 2022.
The figure is up from 17,936 ounces in May of last year.
Head grades averaged 12.1 g/t gold for the month compared with 12.6 g/t gold in May last year.
For the first five months of 2022, Segovia processed 246,352 tonnes at an average grade of 12.2 g/t gold, which is comparable to 229,747 tonnes at 12.7 g/t gold in the first five months of last year.
Total gold production for the first five months of 2022 stands at 86,779 ounces, up from 84,467 ounces in the first five months of last year.
Segovia’s trailing 12-month total gold production as of May 2022 was 208,701 ounces, up about 1 per cent from 2021.
The company also processed an average of 93 tonnes of tailings per day in May 2022 at the Segovia polymetallic plant, which resulted in the production of approximately 130 tonnes of zinc concentrate and 94 tonnes of lead concentrate.
It is currently preparing for initial concentrate shipments under its offtake contract scheduled for the end of this month.
Payable production from concentrates in May 2022 is estimated at 114,000 pounds of zinc, 124,000 pounds of lead, 9,500 ounces of silver and less than 50 ounces of gold.
GCM expects to expand the processing plant at Segovia to 2,000 tonnes per day by July.
It is on track to meet 2022 production guidance of between 210,000 and 225,000 ounces of gold.
Monthly dividend
The company will pay its next monthly dividend of C$0.015 on July 15, 2022, to shareholders of record as of June 30, 2022.
GCM Mining is a mid-tier gold producer building and operating in Latin America.
GCM Mining (GCM) is up by 1.6 per cent trading at $3.82 per share as of 2:08 pm EST.
