Victoria Gold Corp (TSX: VGCX) this morning released production and cost guidance for 2021 for its year round operation at the Eagle Gold Mine in Yukon Territory, Canada. The company currently anticipates gold production between 180,000 and 200,000 ounces.
The production guidance follows commercial production and operational ramp up occurring throughout 2020 for the company. Following upgrades made at the operation, the guidance provided comes with an all in sustaining cost of between US$1,050 and US$1,175 per ounce of gold produced, along with sustaining capital of $47 million
Production for 2021 will see full capacity of mining, crushing and ore stacking at the heap leach pad. Gold production however is now slated to hit full capacity until the second half of the year as a result of the lag between stacking and production in heap leach operations, with production heavily weighted to the tail end of the year as a result. The company also notes that stacking will not occur for a 90 day period each year as a result of the cold weather conditions.
Finally, further exploration expenses of $8.0 million are slated for this year.
Victoria Gold Corp last traded at $11.23 on the TSX.
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