Detour Gold Provides Guidance for 2019
Press Release
TORONTO, Jan. 22, 2019 – Detour Gold Corporation (TSX: DGC) (“Detour Gold” or the “Company”) provides guidance for 2019. Overall, it is in line with the Detour Lake operation’s life of mine plan released in June 2018. The Company will host a conference call on Wednesday, January 23, 2019 at 11:00 AM ET.
All amounts are in U.S. dollars unless otherwise indicated. Refer to the end of this news release for an explanation and discussion of the non-IFRS measures total cash costs and all-in sustaining costs (“AISC”).
2019 Guidance
|
2019 Guidance |
|
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Gold production (oz) |
570,000-605,000 |
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Total cash costs ($/oz sold) |
$790-$840 |
|
AISC ($/oz sold) |
$1,175-$1,250 |
“The Company will continue to execute on its operational strategy for 2019 with the goal of stabilizing the operations by year-end,” said Bill Williams, Interim CEO. “The operational initiatives that Frazer Bourchier, COO, put in place during 2018 have produced positive results. We are building on this momentum to further improve efficiencies that will lead to steady-state operations and position the Company towards a strong future.”
2019 Guidance Review
- Full year projected gold production of between 570,000 and 605,000 ounces.
- The mine plan calls for approximately 115 Mt to be mined from the Detour Lake pit in 2019.
- Mill throughput is expected to range between 21.5 and 22.0 Mt for 2019. Head grade is projected to range between 0.90 and 1.00 g/t, with the lowest grade projected during the second quarter. Mill recoveries are expected to range between 90.5% and 91.5%.
- 2019 AISC are expected to range from $1,175 to $1,250 per ounce sold, with total cash costs of $790 to $840 per ounce sold. The AISC are forecast to be above the yearly guidance in the second and third quarter of the year, mainly due to the timing of capital expenditures for the tailings facility construction.
- Capital expenditures are estimated to range between $190 and $210 million. Higher sustaining capital is anticipated for accelerating the construction of Cell 2 of the tailings facility mainly due to slower progress than planned in 2018.
IBF4
