|Detour Gold Corp. - DGC.t is advancing the flagship Detour Lake deposit.|
With 15.8 million ounces in reserves, Detour Lake is the second largest gold producing mine in Canada with the largest gold reserves.
Detour Gold Corp. has released its operational and financial results for the first quarter of 2018 and has provided an update on its assessment of a revised mine plan with guidance revisions for 2018. First quarter 2018 highlights:
- Gold production of 157,141 ounces;
- Mill throughput of 50,860 tonnes per day and mining rate of 249,780 tpd;
- Total cash costs of $744 per ounce sold and all-in sustaining costso (AISC) of $1,072 per ounce sold;
- Revenues of $201.4-million on gold sales of 151,060 ounces at an average realized priceo of $1,330 per ounce;
- Earnings from mine operations of $51.0-million;
- Net earnings of $9.9-million (six cents per basic share) and adjusted net earnings of $28.2-million (16 cents per basic share);
- Cash and cash equivalents increase to $152.5-million at March 31, 2018, after repaying $10-million of debt.