ARNGF - Argonaut Gold achieves first gold pour at Magino mine in Ontario

2023-06-15 10:51:47 ET

Argonaut Gold ( OTCPK:ARNGF ) +3.4% in Thursday's trading after saying it achieved first gold pour at its Magino mine, the company's first Canadian operation and located in Dubreuilville, Ontario.

Argonaut ( OTCPK:ARNGF ) said it expects Magino will produce 72K-81K oz of gold in 2023 at cash costs of $850-$950/oz and ~148k oz of gold at cash costs of $868/oz in 2024, the mine's first full year of production.

Process plant ramp-up remains on schedule with commercial production expected in Q3.

The company also said it will pursue additional growth opportunities at Magino, with a 12-15 month exploration and reserve development program set to start in Q3.

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