Mineros' Q1 Gold Equivalent Production Jumps 10% YoY
Mineros S-A (MSA.TO) said Monday that its gold equivalent production increased 10% year over year in the first quarter.The company produced 60,782 gold equivalent ounces in the three months ended March 31, rising from 55,124 ounces produced in the year-ago period.Mineros' gold production rose 7% to 57,850 ounces while silver production surged 109% to 161,766 ounces.The miner attributed that higher production to the 22% output increase at the Hemco property in Nicaragua, where it focused on metallurgical recoveries and expanding throughput.Mineros also operates the Nechi property in Colombia, where normal production is expected to recover in the third quarter after its first-quarter output was slightly lower than average but in line with mining plans."With over 60,000 gold equivalent ounces produced in the quarter, the company is tracking toward the upper end of annual guidance of 213,000 to 233,000 ounces," chief executive Daniel Henao said.