Gold production for Osisko rises in Q2
Osisko Mining saw second quarter production of gold surge to a record amount, according to Mining Weekly.
The mining services firm said on Thursday that the second three-month period of this year saw the generation of 92,003 ounces at the Canadian Malartic mine, which is recognized as its flagship interest.
The firm sold 95,675 ounces of the yellowish metal for the average price of $1,605 per troy ounce. By comparison, the average market price is $1,609 per troy ounce.
The firm's team for operations has come through in the clutch, according to chief executive officer Sean Roosen.
"We continue to see improvement in production at Canadian Malartic, and recoveries remain higher than anticipated in the feasibility study, averaging 89.2 percent over the past quarter," Roosen said. "Installation of a second XL2000 crusher will be completed in the coming weeks, and we expect the full secondary crusher to be operational before the end of the month. This key event should allow us to see significant increases in throughput, gold production, and reduced costs per ounce produced."
Thus far this year, the firm has generated a total of 183,181 troy ounces of the yellowish metal.
The firm runs Canadian Malartic in Quebec while also looking into various projects such as the Hammond Reef gold project in Northern Ontario.
According to a press release, Osisko will disclose financial results from the second quarter early next month. A conference call is scheduled for Friday morning, August 10, which will include the firm's senior management.