Gran Columbia Releases Annual Production Guidance for 2020

Gran Colombia Gold Corp. (TSX: GCM) has released an update regarding gold production at its Marmato Operations and Segovia Operations for January 2020. In addition, the company also provided an annual production guidance for 2020.

Regarding gold production at the Marmato Operations, Gran Columbia has produced a total of 1,636 ounces of gold in January 2020, with 2.6 grams of gold per tonne- which is is on par with the previous year’s gold production for the same time period. The company did however, mention that the production did not meet expectations, which were 30 percent below normal due to a shortage of explosives which delayed operations. Nonetheless, the company has since returned to normal operating capacity, and is projecting gold production at the Marmato mine to be between 32,000 and 37,000 ounces in 2020.

Gran Columbia’s Segovia Operations produced a total of 16,865 ounces of gold in January 2020 with a grade of 14.5 grams of gold per tonne, which is a 4 percent increase from the previous year’s time period. The company is expecting to extract approximately 200,000 to 220,000 ounces of gold in 2020 at the Segovia Operations, with an average of 14 grams per tonne of gold. The company also anticipates to expand operations at the Segovia mine, with plans to approximately 45,000 meters in 2020, as well as increase regional exploration to consider for future mining operations.

Gran Columbia Gold Corp is a Canadian gold and silver mining company predominantly stationed in Columbia, and is currently trading at $6.73 on the TSX.

Information for this briefing was found via Sedar and Gran Columbia Gold Corp. 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.