“In 2021, we increased production by 32% and achieved record annual production. In 2022, as expected, we started with lower production once we entered lower grades in EPP and San Andres combined with pit preparation for higher production to be achieved during the second semester of 2022.”
“The year is off to a strong start,” stated Dan Dickson, Chief Executive Officer. “Operationally, Guanacevi continues to outperform production expectations and Bolañitos remains steady. Strategically, we made a significant move in January signing a definitive agreement to acquire the Pitarrilla Project, one of the world’s largest undeveloped silver deposits.”
The Company delivered a strong operating performance in the first quarter of 2022 with all mines on target to achieve annual guidance for silver and gold.
The Company has entered into a 5-year contract with OZTOC to extract available gold at Galore’s 100% owned Duraznillo Ranch, which includes the mining concessions Los Gemelos I and Duende 7 and jointly with Duraznillo Ranch will now be referred to as the Duraznillo Mine.
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