Lake Shore Gold Corp. (TSX:LSG, AMEX:LSG, NYSE:LSG) announced operating results for the full year and Q4 2012 as well as production and cost guidance for 2013.
As quoted in the press release:
- Gold production in 2012 of 85,782 ounces (719,298 tonnes @ 3.9 grams per tonne), with gold poured from 2012 production of 85,184 ounces, in line with Company guidance
- Gold production in fourth quarter 2012 totaling 23,738 ounces (181,575 tonnes @ 4.2 grams per tonne), with gold poured of 24,041 ounces
- Key 2012 mine development and expansion objectives achieved with mining and milling capacity increased 25% to 2,500 tonnes per day (on track to reach 3,000 tonnes per day during second quarter 2013)
Lakeshore Gold’s President and CEO, Tony Makuch, said:
We finished 2012 strong with higher production and improved grades during the fourth quarter. For the full year, we achieved our production guidance, producing 85,782 ounces and pouring 85,184 ounces. Equally important, we met our key mine development and mill expansion objectives, including increasing both our mining and milling capacity by 25% to 2,500 tonnes per day. We remain on track to increase production capacity to 3,000 tonnes per day during the second quarter of this year.