Production results for the third quarter have been released by G Mining Ventures (TSX: GMIN). The company saw production rise by 9% in Q3 to 46,360 ounces of gold, with all production coming from their Tocantinzinho Gold Mine in Brazil.
The production figure follows the Tocantinzinho Mine reaching nameplate capacity early in the quarter, leading to the strongest quarter of production yet for the mine. Q3 saw the mill process 1,094 kt of ore, leading to an average production rate of 11,890 tonnes per day, which represents 92% of nameplate capacity.
Average grades came in at 1.43 g/t gold, down slightly from 1.45 in the prior quarter, while recoveries improved from 90.3% to 92.3%. Year to date, production sits at 124,525 ounces.
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Gold sales meanwhile totaled 49,119 ounces, which was a 23% increase over the 40,082 ounces sold in the second quarter. Year to date sales have totaled 124,636 ounces.
Full financial results are slated to be released November 12 after the close of markets.
G Mining Ventures last traded at $30.70 on the TSX.
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