Heavy rains dampen Detour’s 2016 production guidance

Detour Gold (TSX: DGC) has run into a minor setback at its Detour Lake mine near Cochrane, ON, causing the miner to revise its 2016 production and cost guidance again in less than two months. On Sept. 6, Detour trimmed its production target to between 525,000 and 545,000 oz, from 540,000 to 570,000 oz following heavier than usual rainfalls in mid-August, which flooded the bottom west end of the pit, delaying access to the high grade Calcite zone. On a conference call the next morning, Detour’s management said it received more than 100 mm of rain in two days, which would have been manageable, if it didn’t receive another 50 mm of rain in the following week, creating the “biggest rain event or run-off event” in Detour’s history. Read the entire story at www.NorthernMiner.com/news/heavy-rains-dampen-detour