EXPLORATION & DEVELOPMENT

Premier upbeat on Mercedes, Hasaga hits

Highlights include 75m at 3.1g/t gold

Staff reporter
Premier reports intercepts ahead of investor day

Premier reports intercepts ahead of investor day

Among the highlights, Premier hit 18.3m at 38.28g/t gold and 25.98g/t silver at Mercedes' Aida Vein, and 75m at 3.1g/t gold at Hasaga's C-Zone.

"At Hasaga, the C-Zone and D-Zone targets are clearly structurally-controlled and appear to be open for further expansion, while defining such high grades close to our mine workings at Mercedes will support improved operational performance," executive vice-president Stephen McGibbon said.

The miner is aiming to meet or beat its 2018 guidance after a 40% year-on-year slump in gold and silver output in the March quarter. 

It has two new operations - the Phase 1 openpit and the El Nino underground mine - under construction at its South Arturo joint venture mine with Barrick Gold in Nevada.

Premier ended the quarter with cash and equivalents of US$98.4 million.

It has a budget of $93 million for exploration and development this year, according to its latest presentation, with more than 50% funded by partners.

Premier's shares closed up C5c yesterday to $3.02 but remain down 16.11% year-to-date, capitalising it at $611.9 million.

A growing series of reports, each focused on a key discussion point for the mining sector, brought to you by the Mining Journal Intelligence team.

A growing series of reports, each focused on a key discussion point for the mining sector, brought to you by the Mining Journal Intelligence team.

editions

ESG Mining Company Index: Benchmarking the Future of Sustainable Mining

The ESG Mining Company Index report provides an in-depth evaluation of ESG performance of 61 of the world's largest mining companies. Using a robust framework, it assesses each company across 9 meticulously weighted indicators within 6 essential pillars.

editions

Mining Journal Intelligence Global Leadership Report 2024: Net Zero

Gain insights into decarbonisation trends and strategies from interviews with 20+ top mining executives and experts plus an industrywide survey.

editions

Mining Journal Intelligence Project Pipeline Handbook 2024

View our 50 top mining projects, handpicked using a unique, objective selection process from a database of 450+ global assets.

editions

Mining Journal Intelligence Investor Sentiment Report 2024

Survey revealing the plans, priorities, and preferences of 120+ mining investors and their expectations for the sector in 2024.