Q1 Revenue of $596.7M, Gold Production at 123,900 Ounces
Reports Q1 revenue $596.7M, consensus $588.53M. Produced 123,900 ounces of gold in Q1. "Our Q1 production was in line with guidance driven by a solid performance from the Island Gold District. Underground mining rates at Island Gold increased to a new record, and milling rates at Magino increased significantly over the past six weeks following the implementation of additional improvements. We expect all three of our operations to contribute to a 20% increase in production in the second quarter, with further growth into the second half of the year at substantially lower costs driven by the ongoing ramp up of mining rates at Island Gold. We expect this trend of growing production and declining costs to continue through the end of the decade as we advance our portfolio of high-return growth projects, underpinning one of the strongest outlooks in the sector," said CEO John McCluskey.
