Premier Reports Full 2019 Production Results
January 23, 2020
Elemental Royalties Limited, (“Elemental”), a private company expanding a diversified portfolio of mineral royalties, is pleased to comment on the 2019 full year production results announced by Premier Gold Mines Limited (“Premier”). Premier is the operator of the Mercedes gold-silver mine located in State of Sonora in northern Mexico, on which Elemental Royalties holds a 1% NSR royalty subject to a production hurdle.
During 2019 exploration efforts at Mercedes focused on identifying near-mine deposits, resulting in meaningful discoveries at Lupita Extension and San Martin. Both areas display potential to host above average mineral resource grades. Access to the Lupita Extension area is underway and will increase the number of available ore headings and stopes, resulting in added flexibility and improved production. A comprehensive reconciliation process is being implemented as part of an overall effort to ensure mined grades are optimized to the block model estimate. Additionally, mining dilution reduction efforts now include the use of smaller mining equipment to allow reduced mining widths and headings sizes where appropriate.
For 2020, Premier anticipates increased production and lower costs versus 2019 as operational improvements and access to higher grade mineralization is realized. Consequently, the Mercedes 2020 production guidance range is between 65,000 to 75,000 Oz Au at cash costs of between $850 to $975 per ounce and all-in sustaining costs of between $1,125 to $1,275 per ounce.
The text above is Elemental Royalties’ comment to the operator’s news release and is not included within the original release. The original article is available using the links below.
About Elemental Royalties Limited
Elemental is a private company providing investors with exposure to a dividend-paying royalty company building a diverse portfolio of mining royalties, benefiting from ongoing royalty revenue, future exploration upside and low operating costs.
Since early 2017 Elemental has assembled a portfolio of five royalties over seven commodities in four countries, four of which cover producing mines. Immediate cash-flow has enabled the Company to limit dilutive fund-raisings to facilitate royalty acquisitions, and to pay a dividend from inception.
Elemental’s focus remains on securing royalties over advanced assets with established operators and credible counter-parties from a robust pipeline of potential royalty acquisitions across commodities and geographies.
For further information you are invited to visit the Company’s website www.elementalroyalties.com or contact:
|Elemental Royalties Limited|
|T: +44 (0)203 983 7040|
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