US-based mining company Golden Minerals has reported an increase in its gold, silver production at its Velardeña Operations in Mexico for the third quarter of 2012 .
Silver production increased by 28% to 120,000oz, while gold production increased by 27% to 1,900oz when compared to production in April-June 2012.
The company totally produced 325,000oz of silver and 5,100oz of gold this year until September 2012 with Velardeña also generatingapproximately 700,000 pounds of lead and 930,000 pounds of zinc until September 2012.
Golden Minerals president and chief executive officer Jeffrey Clevenger commented, “Our target for operationally positive cash flow beginning next year is on track with all of the equipment on site to achieve our mining ramp-up goals.
Third quarter production is indicative of the progress being made by the team at Velardeña.”
The company plans to further develop the mine and increase production to 850 tonne a day combined oxide and sulfide plant throughput, and later boost it to 1,150 ore tonnes a day.
