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Klondex Mines reiterates FY guidance after record quarter

The firm also sold 31,172 GEOs in the period, while total silver production stood at 323,122 ounces.

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The miner reported first quarter 2016 production of 30,142 gold equivalent ounces (GEOs)

Nevada-focused gold and silver firm Klondex Mines Ltd (TSE:KDX) has reiterated its full-year production guidance after first quarter figures left the company well-positioned for the rest of the year.

The miner reported first quarter 2016 production of 30,142 gold equivalent ounces (GEOs), with 73,755 total ore tons milled from its Fire Creek and Midas sites – a quarterly record for the company.

Klondex said it expects to keep to its 2016 production guidance of a total of around 145,000 to 150,000 GEOs, with a slight weighting to the second half of the year.

The firm also sold 31,172 GEOs in the period, while total silver production stood at 323,122 ounces.

Paul Huet, President and chief executive said: “Our first quarter 2016 operating results have positioned us well to continue our trend of growing Nevada's production year-over-year.”

The news follows last week’s announcement that the company is to conduct follow-up drilling on the newly acquired Rice Lake Mine after it highlighted historic drill studies from previous owner San Gold Corporation showed the potential for further high grade discoveries.

Quick facts: Klondex Mines Ltd

Price: 3.07 CAD

TSX:KDX
Market: TSX
Market Cap: $553.23 m
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An 'aggressive' 2017 for Klondex Mines as they take two of their projects...

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on 08/01/2017

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