By Mary de Wet
Victoria Gold Corp. expects production at its Eagle Gold Mine of about 180,000 ounces this year, at the low end of its guidance.
On its outlook:
The Canadian miner expects 2021 gold production to be heavily weighted to the second half, after producing 114,726 ounces of gold during the nine months ended Sept. 30.
Victoria Gold had forecast that Eagle Gold Mine would produce 180,000 ounces to 200,000 ounces this year.
"Based on actual production over the first nine months, current stacking rates and forecasted gold production, the Company anticipates full year 2021 production to be close to the lower end of the guidance range of 180,000 ounces."
Victoria Gold expects unit costs to fall materially in the second half as gold production and sales increase. The company had forecast all-in sustaining costs at the Eagle Gold Mine of $1,050 to $1,175 per ounce of gold sold.
"With production anticipated to be at the lower end of guidance and costs trending higher due to wide spread escalation, the Company anticipates full year 2021 AISC to be close to the top end of guidance of US$1,175."
Write to Mary de Wet at mary.dewet@dowjones.com