Fourth Quarter and Full Year 2020 GEO Production
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| 2020 Production |
12,568 | 46,182 | 43,000 – 47,000 | |
18,622 | 63,866 | 63,000 – 67,000 | |
14,502 | 46,371 | 46,000 – 50,000 | |
11,294 | 47,064 | 47,000 – 50,000 | |
Consolidated2 | 56,986 | 203,483 | 200,000 – 215,000 |
1 As presented in the third quarter 2020 financial and operating results press release dated | |||
2 Florida Canyon production during Q1 2020 and Q2 2020 was under Alio Gold Inc. prior to the closing of the merger between Alio Gold Inc. and Argonaut on |
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1 GEOs are based on a conversion ratio of 80:1 silver to gold for 2020 and 85:1 for 2021. The silver to gold ratio is based on the three-year trailing average silver to gold ratio. These are the silver to gold ratios throughout this press release. |
2021 Production and Cost Guidance
The Company anticipates it will produce between 210,000 and 250,000 GEOs during 2021 at a cash cost of between
2021 GEO Production and Cost Guidance
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GEO production | In 000s | 40 – 50 | 65 – 75 | 55 – 65 | 50 – 60 | 210 – 250 |
Cash costs1 | $ per oz Au | 1,050 – 1,150 | 900 – 1,000 | 700 – 800 | 1,200 – 1,300 | 950 – 1,050 |
AISC1 | $ per oz Au | 1,250 – 1,350 |
1 See "Non-IFRS Measures" section. |
2021 Capital Guidance
The Company plans to invest between
2021 Capital Estimate by Project and Category($M)1
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Sustaining | 3 – 4 | 5 – 7 | 1 – 2 | 17 – 18 | - | - | - | 26 – 31 |
Stripping | 6 – 7 | - | 19 – 20 | - | - | - | - | 25 – 27 |
Total Sustaining | 9 – 11 | 5 – 7 | 20 – 22 | 17 – 18 | - | - | - | 51 – 58 |
Expansionary | - | - | - | 11 - 12 | 180 – 190 | 3 – 4 | 10 – 11 | 204 – 217 |
Total | 9 – 11 | 5 – 7 | 20 – 22 | 28 – 30 | 180 – 190 | 3 – 4 | 10 – 11 | 255 – 275 |
1 Assumes exchanges rates of MXN:USD of 20:1 and CAD:USD of 1.3:1. |
Board Member Retirement
Effective
Argonaut Gold Fourth Quarter and Year End Financial Results Conference Call and Webcast
The Company plans to release its fourth quarter and year end 2020 operating results, financial statements and the related management's discussion and analysis after market close on
Fourth Quarter and Year End Conference Call Information for | |
Toll Free ( | 1-888-231-8191 |
International: | 1-647-427-7450 |
Webcast: | www.argonautgold.com |
Fourth Quarter and Year End Conference Call Replay: | |
Toll Free Replay Call ( | 1-855-859-2056 |
International Replay Call: | 1-416-849-0833 |
Passcode: | 8346749 |
The conference call replay will be available from |
Non-IFRS Measures
The Company has included certain non-IFRS measures including "Cash cost per gold ounce sold" and "All-in sustaining cost per gold ounce sold" in this press release to supplement its financial statements which are presented in accordance with International Financial Reporting Standards ("IFRS"). Cash cost per gold ounce sold is equal to production costs less silver sales divided by gold ounces sold. All-in sustaining cost per gold ounce sold is equal to production costs less silver sales plus general and administrative, exploration, accretion and other expenses and sustaining capital expenditures divided by gold ounces sold. The Company believes that these measures provide investors with an alternative view to evaluate the performance of the Company. Non-IFRS measures do not have any standardized meaning prescribed under IFRS. Therefore they may not be comparable to similar measures employed by other companies. The data is intended to provide additional information and should not be considered in isolation or as a substitute for measures of performance prepared in accordance with IFRS.
Cautionary Note Regarding Forward-looking Statements
This press release contains certain "forward-looking statements" and "forward-looking information" under applicable Canadian securities laws concerning the business, operations and financial performance and condition of
Factors that could cause actual results to vary materially from results anticipated by such forward-looking statements include variations in ore grade or recovery rates, changes in market conditions, risks relating to the availability and timeliness of permitting and governmental approvals; risks relating to international operations, fluctuating metal prices and currency exchange rates, changes in project parameters, the possibility of project cost overruns or unanticipated costs and expenses, labour disputes and other risks of the mining industry, failure of plant, equipment or processes to operate as anticipated.
These factors are discussed in greater detail in Argonaut's most recent Annual Information Form and in the most recent Management's Discussion and Analysis filed on SEDAR, which also provide additional general assumptions in connection with these statements. Argonaut cautions that the foregoing list of important factors is not exhaustive. Investors and others who base themselves on forward-looking statements should carefully consider the above factors as well as the uncertainties they represent and the risk they entail. Argonaut believes that the expectations reflected in those forward-looking statements are reasonable, but no assurance can be given that these expectations will prove to be correct and such forward-looking statements included in this press release should not be unduly relied upon. These statements speak only as of the date of this press release.
Although Argonaut has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward-looking statements, there may be other factors that cause actions, events or results not to be anticipated, estimated or intended. 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. Argonaut undertakes no obligation to update forward-looking statements if circumstances or management's estimates or opinions should change except as required by applicable securities laws. The reader is cautioned not to place undue reliance on forward-looking statements. Statements concerning mineral reserve and resource estimates may also be deemed to constitute forward-looking statements to the extent they involve estimates of the mineralization that will be encountered if the property is developed. Comparative market information is as of a date prior to the date of this document.
Qualified Person, Technical Information and Mineral Properties Reports
Technical information included in this release was supervised and approved by
| NI 43-101 Technical Report on Resources and Reserves, |
NI 43-101 Technical Report on Resources and Reserves, | |
NI 43-101 Technical Report on Mineral Resource and Mineral Reserve Florida Canyon Gold Mine | |
| Feasibility Study Technical Report on the |
Pre-Feasibility Study Technical Report on the |
About
For more information, contact:
Vice President, Corporate Development & Investor Relations
Phone: 416-915-3107
Email: dan.symons@argonautgold.com
SOURCE
© Canada Newswire, source