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Brigus Provides Fourth Quarter Gold Production Guidance
Brigus Gold Corp. (NYSE Amex: BRD) expects to produce 14,000 to 15,000 ounces of gold in the fourth quarter. This is less than expected earlier. The average grade from the underground mine was 2.79 g/t gold in October and November, due to dilution encountered in underground mining which was substantially less than the 6 g/t gold from average production from 1997 to 2001. Production from underground was commensurate with grades from the open pit, at 2.71 g/t gold, which was according to the mine plan. Recoveries from the mill were at 94% to 95%. Brigus also has increased gold resources with it initial deposit at the Contact and 147 Zone increasing resources by 50%.
It would appear that with optimization of underground operations, with grades from the open pit as scheduled, good recoveries at the mill, and ongoing exploration success, cash flow may improve in 2012 along with the company’s investment profile.
