Increased gold production at the Castle Mountain gold mine enabled Viceroy Resource (TSE) to boost its second-quarter earnings by 28% to $1.5 million from $1.2 million earned during the first quarter.
The large open pit, heap leach operation in eastern California turned out 27,720 oz. in the fiscal second quarter (ended Sept. 30), an 18% increase from 23,571 oz. produced in the first quarter.
Viceroy operates and owns 75% of the mine which produced a total of 51,291 oz. gold at an average cash cost of US$206 per oz. during the first six months of operation.
The mine, which began commercial production in April, is expected to produce 100,000 oz. during its first year of operation.
Be the first to comment on "Viceroy increases output, earnings"