Gran Colombia Announces Segovia Production for August 2021; Declares Monthly Dividend to Be Paid on October 15, 2021
Gran Colombia Gold Corp. (TSX: GCM; OTCQX: TPRFF) reported production of 17,377 ounces of gold and 17,915 ounces of silver in August 2021, totaling 133,891 ounces of gold and 144,796 ounces of silver for the first eight months. The Maria Dama plant processed 50,245 tonnes, averaging 1,621 tpd. The company expects to produce between 200,000 and 220,000 ounces of gold for 2021. A monthly dividend of CA$0.015 per share will be paid on October 15, 2021, to shareholders on record as of September 30, 2021.
- Production increase: 133,891 ounces of gold and 144,796 ounces of silver YTD 2021, up from 129,082 ounces of gold and 118,570 ounces of silver in 2020.
- Monthly dividend declared at CA$0.015, signaling confidence in financial health.
- Processing rates decreased: Average head grades dropped from 14.7 g/t in 2020 to 12.7 g/t in 2021.
- Lower average daily processing rate of 1,505 tpd compared to 1,242 tpd in 2020.
TORONTO, Sept. 15, 2021 (GLOBE NEWSWIRE) -- Gran Colombia Gold Corp. (TSX: GCM; OTCQX: TPRFF) announced today that it produced 17,377 ounces of gold and 17,915 ounces of silver at Segovia in August 2021 bringing the total for the first eight months of the year to 133,891 ounces of gold and 144,796 ounces of silver, up from 129,082 ounces of gold and 118,570 ounces of silver at Segovia in the first eight months of 2020.
Gran Colombia processed 50,245 tonnes in August at its Maria Dama plant, representing a daily processing rate of 1,621 tonnes per day (“tpd”), and head grades averaged 12.0 g/t in the month. This brings the daily processing rate for the first eight months of 2021 to an average of 1,505 tpd with an average head grade of 12.7 g/t compared with 1,242 tpd at an average head grade of 14.7 g/t in the first eight months of 2020.
Commissioning of the new polymetallic recovery plant at Segovia has commenced and the Company expects to begin producing concentrate including zinc, lead, gold and silver from its tailings in the fourth quarter of 2021.
With its trailing 12-months total gold production amounting to 201,170 ounces, Gran Colombia remains on track to produce between 200,000 and 220,000 ounces of gold in 2021 from its Segovia Operations.
Monthly Dividend Declaration
Gran Colombia also announced today that its Board of Directors has declared the next monthly dividend of CA
About Gran Colombia Gold Corp.
Gran Colombia is a mid-tier gold producer with a proven track record of mine building and operating in Latin America. In Colombia, the Company is currently the largest underground gold and silver producer with several mines in operation at its high-grade Segovia Operations. In Guyana, the Company is advancing the Toroparu Project, one of the largest undeveloped gold projects in the Americas. Gran Colombia also owns an approximately
Additional information on Gran Colombia can be found on its website at www.grancolombiagold.com and by reviewing its profile on SEDAR at www.sedar.com.
Cautionary Statement on Forward-Looking Information:
This news release contains "forward-looking information", which may include, but is not limited to, statements with respect to production guidance, the payment of dividends and other anticipated business plans or strategies. Often, but not always, forward-looking statements can be identified by the use of words such as "plans", "expects", "is expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates", or "believes" or variations (including negative variations) of such words and phrases, or state that certain actions, events or results "may", "could", "would", "might" or "will" be taken, occur or be achieved. Forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of Gran Colombia to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements. Factors that could cause actual results to differ materially from those anticipated in these forward-looking statements are described under the caption "Risk Factors" in the Company's Annual Information Form dated as of March 31, 2021 which is available for view on SEDAR at www.sedar.com. Forward-looking statements contained herein are made as of the date of this press release and Gran Colombia disclaims, other than as required by law, any obligation to update any forward-looking statements whether as a result of new information, results, future events, circumstances, or if management's estimates or opinions should change, or otherwise. There can be no assurance that forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, the reader is cautioned not to place undue reliance on forward-looking statements.
For Further Information, Contact:
Mike Davies
Chief Financial Officer
(416) 360-4653
investorrelations@grancolombiagold.com
FAQ
What are Gran Colombia Gold's gold production figures for August 2021?
What is the dividend amount declared by Gran Colombia Gold?
When will Gran Colombia Gold's dividend be paid?
What is Gran Colombia Gold's production guidance for 2021?
How does Gran Colombia Gold's 2021 gold production compare to 2020?
