GOLD: Record output, lower costs for Lake Shore

ONTARIO – The second quarter was kind to Lake Shore Gold of Toronto, bringing both record gold production and lower operating costs. The company poured 31,800 oz of gold in the quarter ending June 30. Total all-in sustaining costs during the same period were US$1,257/oz, compared to US$1,398/oz for the first half of 2013.

The company said total AISC will improve to about US$1,000/oz in the second half of this year.

Lake Shore said the average grade of ore mined from the Timmins West and Bell Creek mines was 4.3 g/t Au, an improvement over 3.8 g/t during Q1 2013. Meanwhile, the company began commissioning the expanded Bell Creek mill at Timmins. The target of 3,000 t/d is expected to be reached by early September. Higher mill capacity will boost total gold output as well as further reduce operating costs.

Details from Lake Shore's second quarter are available at LSgold.com in the news release dated Aug. 12, 2013.