Premier Reports Q1 2019 Production Results
May 1, 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 Premier Gold Mines Limited (“Premier”) of that company’s Q1 2019 production results. 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 Q1 2019 the Mercedes mine produced 17,614 Oz gold and 57,681 Oz silver production. Production guidance for 2019 as a whole remains unchanged at 75,000 – 85,000 Oz gold and 225,000 – 250,000 Oz silver at a cash cost of $730 – $780/Oz.
With development work weighted toward the H1 2019 and monthly production levels weighted toward H2, the Mercedes team has focused on meeting development objectives that will drive planned production levels for the remainder of the year. Development of the drift from the Lagunas mine to access the higher-grade Marianas deposit continued during the quarter with underground drilling at Marianas, which commenced in 2018, planned to continue throughout 2019.
Exploration and resource definition drilling remain a priority at Mercedes where current surface and underground drill programs are testing several new targets to identify new deposits. Elemental looks forward to the results of this work in due course.
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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