Premier Reports Q2 2019 Production Results
July 17, 2019
Elemental Royalties Limited, (“Elemental”), a private company expanding a diversified portfolio of mineral royalties, is pleased to comment on the recent announcement made by Premier Gold Mines Limited (“Premier”) of that company’s Q2 2019 production results. 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 Q2 2019 the Mercedes mine produced 15,532 Oz gold and 56,522 Oz silver production, coming predominantly from the Diluvio, Rey de Oro and Lupita zones. Production guidance for 2019 as a whole remains unchanged at 75,000 – 85,000 Oz gold and 225,000 – 250,000 Oz silver at a cash cost of $730 – $780/Oz.
Premier has confirmed that production from Mercedes during 2019 is weighted heavily toward the second half with output from Diluvio planned to account for approximately 52% of ounces produced. Given the importance of effectively executing the current mine plan, and to ensure continued success, delineation drilling is being increased and senior technical resources have been added to support the onsite geological team. Mining will also look to draw more heavily from the Rey de Oro and Lupita zones where grades are currently anywhere from 30% to 60% higher.
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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