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Argonaut Gold (OTCPK:ARNGF) +3.4% in Thursday’s trading after saying it achieved first gold pour at its Magino mine, the company’s first Canadian operation and located in Dubreuilville, Ontario.
Argonaut (OTCPK:ARNGF) said it expects Magino will produce 72K-81K oz of gold in 2023 at cash costs of $850-$950/oz and ~148k oz of gold at cash costs of $868/oz in 2024, the mine’s first full year of production.
Process plant ramp-up remains on schedule with commercial production expected in Q3.
The company also said it will pursue additional growth opportunities at Magino, with a 12-15 month exploration and reserve development program set to start in Q3.
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