Friday, December 09, 2016 11:04:24 AM
December 09, 2016
TORONTO, ON --(Marketwired - December 09, 2016) -
Gran Colombia Gold Corp. (TSX: GCM)
announced today that it produced a total of 12,973 ounces of gold in
November 2016 bringing the eleven months' total production to
134,893 ounces of gold, up 28% over the same period last year.
The Company expects that its total gold production for 2016
will reach the upper half of its latest guidance
for the full year of 144,000 to 150,000 ounces.
At the Segovia Operations,
November's gold production of 10,870 ounces reflected improved head
grades in material from the Company-operated area within
the Providencia mine where development activity has reached
an expected high grade section of the resource.
This brings the year-to-date total gold production at
Segovia to 113,479 ounces, up 35% from the same period last year and
for the full year, the Company continues to expect that
Segovia's gold production will reach the upper end of its latest
guidance of 120,000 to 126,000 ounces.
At the Marmato Operations,
head grades and mill recovery showed some improvement compared with
results in previous months and the mine
produced 2,103 ounces in November, bringing the year-to-date
total gold production to 21,415 ounces, on par with the same period
last year.
The mine is expected to produce close to 24,000 ounces again this year.
2020 Debenture Repurchase and Cancellation -
On December 6, 2016, the Company used the approximately $1.1 million
balance of funds available in the sinking fund for
the 2020 Debentures to complete a block purchase under its normal
course issuer bid of $1,290,000 aggregate principal amount of
2020 Debentures for cancellation.
As of today's date, the aggregate principal amounts of the 2018 and
2020 Debentures issued and outstanding are
$49.7 million and $101.2 million, respectively.
About Gran Colombia Gold Corp.
Gran Colombia is a Canadian-based gold and silver exploration,
development and production company with its primary focus in Colombia.
Gran Colombia is currently the largest underground gold and silver
producer in Colombia with several underground mines in operation
at its Segovia and Marmato Operations.
Gran Colombia is in the midst of an expansion and
modernization project at its Segovia Operations.
Additional information on Gran Colombia can be found
on its website at
http://www.grancolombiagold.com
and by reviewing its profile on SEDAR at
http://www.sedar.com -
Cautionary Statement on Forward-Looking Information:
This news release contains "forward-looking information". Often, but not
always, forward-looking statements ----the reader is cautioned not to
place undue reliance on forward-looking statements.
For Further Information, Contact:
Mike Davies
Chief Financial Officer
(416) 360-4653
investorrelations@grancolombiagold.com
http://www.grancolombiagold.com/news-and-investors/press-releases/press-release-details/2016/Gran-Colombia-Gold-Provides-Update-on-Production-and-2020-Debenture-Repurchase/default.aspx -
http://www.grancolombiagold.com/news-and-investors/investor-resources/rss-feeds/default.aspx
http://investorshub.advfn.com/Gran-Colombia-Gold-Corp-TPRFF-30138/
http://investorshub.advfn.com/Gran-Colombia-Gold-Corp-TPRFF-30138/
- God Bless -
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