ONTARIO – Lake Shore Gold Corp., operator of the Timmins West and Bell Creek gold mines near Timmins, posts its first ever quarter of net free cash flow, president and CEO Tony Makuch said in a release. Cash and bullion at Dec. 31, 2013, totaled $34.0 million compared to $15.2 million a quarter earlier.
The company also set a gold production record for 2013 of 132,600 oz from 952,700 tonnes of ore averaging 4.6 g/t Au. The fourth quarter number – 51,700 oz – was a record for the last quarter of any year. During Q4, 321,800 tonnes averaging 5.2 g/t Au were milled. Mill recoveries for the year averaged 95.8%.
Lake Shore is setting its 2014 guidance number at 160,000 to 180,000 oz of gold. Please visit LSGold.com.