Fiore Gold Ltd. (TSX: F) reported today the production results for the fiscal third quarter ending June 30, 2021 at the Pan open-pit mine in White Pine, Nevada. The company yielded quarterly gold production of 11,756 gold ounces.
The company relayed that this quarter’s production is an 8% increase from fiscal Q2 2021’s results. The quarterly gold sales were at 11,741 gold ounces at an average realized price of US$1,815 per gold ounce.
Fiore Gold ended the fiscal quarter with an $18.5 million cash balance. The mining company said this is an increase from last quarter’s balance despite the capital investment made in developing the Pan leach pad and the ongoing mining activities at its Gold Rock project. During the quarter, the company was able to report drill results from Gold Rock, highlighting an intersect of 2.85 g/t gold over 24.4 metres.
The company also relayed that it recently placed the first ore on the new leach pad during June 2021. The company expects this move to improve gold production in the next quarter.
Fiore Gold last traded at $1.14 on the TSX Venture.
Information for this briefing was found via Sedar and Fiore Gold. The author has no securities or affiliations related to this organization. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security. The author holds no licenses.
