Andean Precious Metals (TSX: APM) last night released preliminary operating results for the second quarter, with the company reporting Q2 production of 24,341 gold equivalent ounces.
Those ounces consisted of 11,945 ounces of gold and a further 1.1 million ounces of silver, with gold equivalent production improving from 21,361 ounces in the first quarter. Production to date is said to be inline with guidance expectations, with the current guidance range of 103,000 to 117,000 ounces said to be 60% weighted to the second half of the year.
Broken down on a site by site basis, Golden Queen saw the production of 11,224 ounces of gold and 89,000 ounces of silver, for combined gold equivalent production of 12,213 ounces, an improvement from 11,189 ounces in the first quarter. San Bartolome meanwhile saw 721 ounces of gold produced in Q2, alongside 1.0 million silver ounces, for gold equivalent production of 12,128 ounces, as compared to 10,172 gold equivalent ounces in the first quarter. Both sites are currently producing inline with guidance.
“Our second quarter gold equivalent production of 24,341 ounces brings the Company to 45,702 gold equivalent ounces for the first half of the year. As expected, production improved over Q1, and the Company is trending at the top end of our guidance considering the weighted production profile of approximately 40% in the first half and 60% in the second half of the year,” commented Alberto Morales, CEO of Andean Precious Metals.
Andean Precious Metals last traded at $3.50 on the TSX.
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