Austral Gold: Q2 2019 Activity Report
July 31, 2019
Elemental Royalties Limited, (“Elemental”), a private company expanding a diversified portfolio of mineral royalties, is pleased to comment on the recent announcement made by Austral Gold Limited (“Austral”) of that company’s Q2 2019 activity report. Austral is the operator of the Amancaya gold mine located in Chile, on which Elemental holds a 2.25% NSR royalty.
Elemental is pleased to note the very positive report from Austral, where during Q2 the Guanaco / Amancaya mine complex continued its strong performance with 18,322 gold equivalent ounces produced. This represents a significant 43% increase from Q1 2019.
- Record quarterly production at Guanaco / Amancaya of 18,322 gold equivalent ounces (16,604 Oz Au & 125,773 Oz Ag)
- Q2 2019 production represents a 43% increase over Q1 2019 and an 18% increase over Q2 2018
- The Guanaco / Amancaya complex continues to generate solid margins with operating cash cost and AISC at US$717 and US$952 respectively
- Operating cash cost and AISC decreased by 10% and 7% respectively for the quarter
- The average selling price obtained during Q2 2019 was US$1,308 per ounce
Elemental is pleased to note that the higher production values result mainly from higher throughput at Amancaya as a result of better mine equipment availability, coupled with higher gold grades and increased recoveries. The Company also notes that production guidance for the Guanaco / Amancaya complex remains at 70-75,000 gold equivalent ounces with operating cash costs and AISC estimated at US$700-800/Oz and US$950-1000/Oz respectively.
The text above is Elemental Royalties’ comment to the operator’s news release and is not included within the original release. The original article is available using the links below.
About Elemental Royalties Limited
Elemental is a private company providing investors with exposure to a dividend-paying royalty company building a diverse portfolio of mining royalties, benefiting from ongoing royalty revenue, future exploration upside and low operating costs.
Since early 2017 Elemental has assembled a portfolio of five royalties over seven commodities in four countries, four of which cover producing mines. Immediate cash-flow has enabled the Company to limit dilutive fund-raisings to facilitate royalty acquisitions, and to pay a dividend from inception.
Elemental’s focus remains on securing royalties over advanced assets with established operators and credible counter-parties from a robust pipeline of potential royalty acquisitions across commodities and geographies.
For further information you are invited to visit the Company’s website www.elementalroyalties.com or contact:
|Elemental Royalties Limited|
|T: +44 (0)203 983 7040|
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