Golconda Gold Ltd. Achieves Record Production for 2024
Golconda Gold Ltd. Reports Q4 and Full Year 2024 Success
Golconda Gold Ltd. is thrilled to share its latest production results, demonstrating a remarkable achievement in gold extraction and processing for the fourth quarter and full year of 2024. The Company reported an impressive production of 2,230 ounces of gold for the fourth quarter and a total of 7,712 ounces for the entire year. This signifies a solid 22% increase in overall gold production compared to the previous year, reflecting the determined efforts made to enhance operational capacity.
The production results for the fiscal year 2024 paint a promising picture of growth. The outstanding performance was primarily attributed to optimized mining operations at the Galaxy Gold Mine. The average ore grades mined and processed played a crucial role in achieving these elevated outputs.
Production Breakdown for FY 2024
To provide a clearer understanding of the production advancement, here’s how the extracted and processed materials stacked up for 2024:
Ore Mined: Over the fiscal year, Golconda Gold successfully mined robust quantities from its two key ore bodies, Princeton and Galaxy. Together they produced:
- Princeton UG: 25,212 tonnes of ore
- Galaxy UG: 62,483 tonnes of ore
- Total UG: 87,695 tonnes of ore
Average Ore Grades: The average grade for the ore mined was a consistent 3.17 g/t for the year, with notable segments anticipating future resource upgrades.
Highlighted Quarterly Results
In the fourth quarter specifically, Golconda Gold saw:
- Mined a total of 29,479 tonnes, reflecting a 5% increase from the third quarter.
- Produced 1,923 tonnes of concentrate, leading to 2,230 ounces of gold.
Insights from Leadership
Ravi Sood, CEO of Golconda Gold, remarked on the exceptional performance of the Galaxy operations, noting how the team saw tremendous improvements in the latter half of the year. The employment of stream proceeds reinvested into operations is a strategy Sood is confident will sustain forward momentum into 2025.
He expressed optimism, stating, "The second half of 2024 exhibited not only substantial improvements but also laid a solid foundation for upcoming endeavors. Our commitment to enhancing production while ensuring safety and environmental stewardship is unwavering."
About Golconda Gold Ltd.
As a proud un-hedged gold producer, Golconda Gold Ltd. operates mining projects that showcase its commitment to responsible mining practices.... In each endeavor, they aim to adhere to world-class standards while positively impacting the communities they engage with.
Frequently Asked Questions
What are the key production figures for Golconda Gold in 2024?
In 2024, Golconda Gold produced 7,712 ounces of gold, with 2,230 ounces in Q4 alone.
How much ore did Golconda Gold mine in 2024?
The total ore mined in 2024 was 87,695 tonnes across both the Galaxy and Princeton ore bodies.
What improvements were noted in the latter half of 2024?
The latter half of the year saw a 91% increase in ore mined, with significant increases in waste development and gold production.
What does the future hold for Golconda Gold?
The leadership is optimistic about continued operational improvements and the potential for future production growth in 2025.
Who can I contact for more information about Golconda Gold?
For inquiries, you can reach Ravi Sood, CEO, at (647) 987-7663 or via email at ravi@golcondagold.com.
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