Premier Reports Q3 2019 Production Results
October 30, 2019
Elemental Royalties Limited, (“Elemental”), a private company expanding a diversified portfolio of mineral royalties, is pleased to comment on the Q3 2019 production results announced by Premier Gold Mines Limited (“Premier”). Premier is the operator of the Mercedes gold-silver mine located in State of Sonora in northern Mexico, on which Elemental Royalties holds a 1% NSR royalty subject to a production hurdle.
During Q3 2019 the Mercedes mine produced 14,481 Oz gold and 37,462 Oz silver. Work at Mercedes aims to improve future operations, as such Q2 & Q3 2019 have seen lower production due primarily to lower than modelled grades in some stoping areas. While the mine continues to deliver good safety and environmental performance the operating team is focused on implementing measures to increase production and reduce costs. Additional development headings and stopes are being advanced with support from both surface extensional drilling and underground definition drilling.
Exploration and resource definition drilling continue to be a priority, with drilling significantly increased during Q3 with up to 9 drills actively defining high-grade mineralization that can be upgraded into mineral resources and reserves. Higher grade gold mineralization has been discovered at Lupita Extension, San Martin, and Neo with a current focus on Lupita Extension.
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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