Argonaut Gold Inc. Announces Production Results for the Fourth Quarter and Full Year Ended December 31, 2016; Provides Production Guidance for the Year 2017
The company announces gold equivalent ounce1 ("GEO" or "GEOs") production of 122,097 during the year ended December 31, 2016. During 2016, El Castillo and La Colorada GEO production totaled 62,766 and 59,331, respectively.
The company anticipates it will produce between 115,000 to 130,000 GEOs during 2017 at a cash cost of between $725 to $775 per gold ounce sold and an all-in sustaining costs ("AISC") of between $910 to $960 per gold ounce sold. The company plans to invest $75.8 million in capital expenditures during 2017, primarily in the areas of construction at San Agustin ($34.0 million) and capitalized stripping at the El Creston pit at La Colorada ($18.7 million).