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Gran Columbia (GCM.t) : restructured Columbian Gold miner

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Gran Colombia Gold Announces Resumption of Normal Operations at Segovia

September 05, 2017

TORONTO, Sept. 05, 2017 (GLOBE NEWSWIRE) -- Gran Colombia Gold Corp. (the “Company”) (TSX:GCM) announced today that operations at its mines and plant in Segovia have returned to normal over this past weekend with the 42-day civil disruption having come to a conclusion on September 1, 2017.

Commenting on the news, Lombardo Paredes, Chief Executive Officer of the Company said, “We are pleased to see the civil strike in Segovia and Remedios has been lifted and we can get back on track with our 2017 operating and capital plan. We appreciate the support we have received from the various levels of government and from our employees during this period. Through our commitment to economic development in Segovia and Remedios, we will incorporate additional small mining collectives into our contract mining model which will allow continued operation of ancestral mining within our title in accordance with the government’s requirements for health, safety and environmental responsibility. Although our production in August was below normal, we continue to expect that we will meet our annual production guidance for 2017 of 150,000 to 160,000 ounces of gold.”

 

During the course of the civil disruption, the Company continued its discussions regarding the financial and operating parameters that would enable it to bring additional mining collectives operating within its title into its contract mining model, under which over 2,500 miners in Segovia and Remedios are currently working with the Company. Over the next few months, the Company will negotiate specific operating contracts with each of the mining collectives based on general terms agreed to last Friday between the Ministry of Mines, the Governor of Antioquia, the Mayors of Segovia and Remedios, the Mesa Minera and the Company. The monetary compensation under these new operating contracts will be established for each mining collective individually with the Company retaining between 10% and 60% of the spot price for each ounce of gold produced. The contracts will also require that all ore is to be processed at the Company’s Maria Dama plant.

==

> http://www.grancolombiagold.com/news-and-investors/press-releases/press-release-details/2017/Gran-Colombia-Gold-Announces-Resumption-of-Normal-Operations-at-Segovia/default.aspx

 

Explains why the GCM price jumped to C$1.60 yesterday, after lagging for some days

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Gran Colombia Gold Announces Multiple High Grade Drill Results

From Its 2017 Infill Drilling Program at Its Providencia Mine in Segovia

September 18, 2017

 

TORONTO, Sept. 18, 2017 (GLOBE NEWSWIRE) -- Gran Colombia Gold Corp. (TSX:GCM) announced today the assay results from the ongoing 2017 diamond infill drilling program at its Providencia underground gold mine at its Segovia Operations.

Infill drilling at Providencia was aimed to further delineate one of the main high-grade orebodies on which sparse previous surface drilling had intersected high gold grades. Multiple high gold grades generated from 19 drill holes (1,119 metres) drilled from underground in the 2017 drilling program were intersected on the main vein system with maximum grades of 649.1 g/t Au over 0.39 metres and 249.3g/t Ag over 0.95 metres.

Serafino Iacono, Executive Co-Chairman of Gran Colombia, commented: "We are pleased to report that the assay results returned from the ongoing Providencia infill drilling program represent some of the highest grades seen at Providencia so far, which further increases our confidence in the potential for adding new resources to the mine and extending its mine life. The underground mine at Providencia is one of the highest-grade mines in Colombia and it continues to contribute to our production growth and free cash flow generation from our Segovia Operations."

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Gran Colombia Gold Files ... 43-101 Preliminary Economic Assessment for Its Segovia Project

September 28, 2017

 

The updated life-of-mine (“LOM”) plan included in the Technical Report foresees a total of 4.1 million tonnes of material with an average head grade of 8.8 g/t being processed over an extended mine life through the end of 2026, four years longer than the previous LOM plans for the Segovia Project. Over this mine life, the updated LOM plan expects a total of 1.0 million ounces of gold to be produced at an average LOM total cash cost1 of $697 per ounce and an AISC1 (excluding corporate G&A) of $896 per ounce. At an expected long-term gold price of $1,250 per ounce, total LOM undiscounted after-tax free cash flow from mining operations amounts to $210 million and the net present value at a 5% discount rate amounts to $178 million.

The Technical Report bearing an effective date of August 7, 2017 was prepared by SRK Consulting (U.S.), Inc. (“SRK”)

==

 

"Four more years" > 2026

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PRODUCTION:

July : 10,187e
Aug. : 10,188e
Sep. : 16,664* = 16,664 - see below
====
Q3 - : 37,039 /3= 12,346oz
Q2 - : 46,075 /3= 15,358oz
====
Estimated Q3 Revs. vs. Actual Q2-2017 Production
Est.
==== : 2016-q1 : 2016-q2 : 2016-q3 : 2016-q4 : 2017-q1 : 2017-q2 : 2017-q3?
Revs : $34.47M : $48.01M : $51.22M : $49.00M : $45.72M : $55.97M : $45.00Me:
Prod. : 31,489oz: 38,229oz: 39,111oz/ 40,850oz: 39,008oz: 46,075oz: 37,039oz : 12mos: 163,001, 9mos: 122,122
/mon. : ---------------------------- / 3 mos/ -13,617- : -13,003- : -15,358- : -12,346- :

Ebitda : $11.59M: $18.30M: $19.71M : $16.20M : $13.59M: $17.70e :
====
Gran Colombia Sets New Monthly Gold Production Record in September 2017

and Remains on Track With 2017 Annual Production Guidance
October 11, 2017

TORONTO, Oct. 11, 2017 (GLOBE NEWSWIRE) --

Gran Colombia Gold Corp. (TSX:GCM) announced today that it produced a total of 16,664 ounces of gold in the month of September, surpassing the previous monthly production record established earlier this year and bringing the total for the third quarter of 2017 to 37,039 ounces, only 5% below the third quarter last year despite the adverse impact of a 42-day civil disruption at its Segovia Operations that ended on September 1, 2017. For the first nine months of 2017, gold production increased by 12% over the first nine months last year to a total of 122,122 ounces. The trailing 12 months’ total gold production as of the end of September 2017 now stands at 163,001 ounces, up 9% over 2016’s annual gold production and above the Company’s production guidance for the 2017 calendar year of a total of 150,000 to 160,000 ounces.
==
> http://www.grancolombiagold.com/news-and-investors/press-releases/press-release-details/2017/Gran-Colombia-Sets-New-Monthly-Gold-Production-Record-in-September-2017-and-Remains-on-Track-With-2017-Annual-Production-Guidance/default.aspx

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GCM share price - vs. GDXJ & MNT.t

 

GCM.t - etc ... update : GCM.t only : 10/12/2017: c$1.86 : c$17.06 : $34.65 :

eK18IVU.gif

==

 

ADDED - in edit

==

Gran Colombia Gold Announces 40 Meters at 4.00 Grams Gold Per Tonne Intersected in the Latest Drill Hole at Its Marmato Project

October 17, 2017

TORONTO, Oct. 17, 2017 (GLOBE NEWSWIRE) -- Gran Colombia Gold Corp. (TSX:GCM) announced results today from an ongoing underground exploration drilling program at its Marmato Project. Hole MND_282_03_17, drilled from Level 20, has intercepted an interval of “Deeps style” of mineralization at a vertical depth of about 1,000 meters below surface and about 25 meters vertically below Level 21, which returned an overall grade of 3.09 g/t Au over a core length of 59.18 meters, including a higher-grade sub section of 4.00 g/t Au over 40.40 meters.

Serafino Iacono, Executive Co-Chairman of Gran Colombia, commented: “We continue to be encouraged by the exploration results we are seeing at Marmato ahead of a more substantial drilling program that we have planned for next year to continue expanding our understanding of the total mineral resource potential of the deposit. Following on our recent announcement of an underground Mineral Resource estimate for Marmato, this latest intersection corroborates our confidence in the presence of a high-grade core within a wider halo with a lower grade in the “Deeps” zone below the current operating mine. The deep mineralization remains open for continued expansion along strike and at depth and has the potential to expand the mine life at our Marmato operations.”

Hole MND_282_03_17 belongs to an underground drilling campaign targeted to explore the down-dip extension of the typical vein mineralization between Level 21, the deepest level of the existing operating mine, and Level 24. The objective of this drilling campaign is also to test the up-dip projection of the body that hosts the “Deeps style” of mineralization. Another hole, MND_282_01_17, was previously drilled from the same drilling station at a steeper angle. The style of mineralization shown by both holes resembles the mineralization that was intersected in earlier holes drilled from Level 20 that characterize the deep body (refer to the Company’s press release dated March 13, 2017).

  • The intersections in these drill holes are interpreted to form the top of the deep zone of veinlet-hosted mineralization, which was initially interpreted to start about 100 metres below the current mine workings, and forms a deep body that could be suitable for underground bulk mining.
  • The deep gold mineralization is related to narrow veinlets of quartz-pyrrhotite with minor amounts of pyrite and chalcopyrite and a narrow halo of intermediate argillic alteration. These change upwards to pyrite veinlets with pervasive intermediate argillic alteration. They overprint earlier potassic alteration with porphyry-style quartz veinlets, overlain by propylitic alteration. The porphyry style alteration and veining does not carry mineralization.
  • This drill program continues to increase the confidence in the geological model through increased drill density, and also has the potential to significantly increase our Mineral Resources and expected mine life at the Marmato Operations.
  • Drilling focused on providing increased definition and confidence in the near-term mine operation within the Indicated Mineral Resources, and includes the following key intercepts:
Hole From
(m)
To (m) Width
(m)
Au (g/t)
(uncut) Au (g/t)
(cut) Ag (g/t) MND_282_01_17* 206.0 261.88 55.88 2.80 2.75 4.72 and 286.0 290.5 4.45 17.60 7.71 8.47 MND_282_03_17* 137.26 196.44 59.18 3.09 3.09 3.62 including 137.26 177.66 40.40 4.00 4.00 3.72

* Denotes underground drill holes. The two underground holes were drilled at -45° and -30° from the horizontal, respectively, and the intersection lengths do not represent true widths. Intersections were calculated using a cut-off grade of 1.0 g/t gold and no more than 6.0 metres of internal dilution. Gold grades are reported uncut and cut to 20.0 g/t (which affects two samples in MND_282_01_17). Silver grades are reported uncut.

==

> http://www.grancolombiagold.com/news-and-investors/press-releases/press-release-details/2017/Gran-Colombia-Gold-Announces-40-Meters-at-400-Grams-Gold-Per-Tonne-Intersected-in-the-Latest-Drill-Hole-at-Its-Marmato-Project/default.aspx

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Gran Columbia

 

n4BlqQS.png

 

GCM ... 6-mos : 10-d : Last: C$1.84 Change:arrow_up_sm.gif +0.01

Y64vDXG.gif

 

/ 10-d / U-1%: V-6% : 1% Debs : $78.0 +1.0 / 6%

 

Date----- : GCM.t : 513sh: CAD$: NotVal: 1% Deb. vol. : Db.O/S- Date : 6%Deb: Db.O/S- Date: TotDebt: Shs-OS: MktValue : Ent.Val. : Gold : OZ's

08/22/17 : $1.370 : 0,703 : 0.796 : 55.94 : $70.00, 78.00K: $45.97-04/28: $87.00 : 100.5 - 05/02 : $146.5 : 20.45m*: C$28.0M: $168.8M/ 1286= 131.3K

09/25/17 : c$2.20 : 1,129 : 0.808 : 91.19 : $89.50, 36.00K: $45.97-04/28: $92.00 : $99.4 - 06/30 : $145.4 : 20.45m*: C$45.0M: $181.8M/ 1312= 138.5k oz
10/12/17 : c$1.86 : 954.2 : 0.802 : 76.53 : $81.00, 20.00K: $45.97-06/30: $95.02 : $99.4 - 06/30 : $145.4 : 20.45m*: C$38.0M: $175.9M/ 1297= 135.6k oz

10/20/17 : c$1.84 : 943.9 : 0.792 : 74.76 : $78.00, 10.00K: $45.97-06/30: $95.02 : $99.4 - 06/30 : $145.4 : 20.45m*: C$37.6M: $175.2M/ 1281= 136.8k oz

 

Bid/Offer ; 75-81

 

$780 - $190 = $590 / 415.5 = US$1.420 / 0.792 = C$1.79

 

GCM-etc ... update

4gRCN3z.gif

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Has COLOMBIA ended the NARCO WAR? - VisualPolitik EN

Published on Oct 12, 2017
What happened in Colombia after Escobar? Who took Pablo's business? And then there is the most important question of all…

Is there still cocaine trafficking in Colombia? Today in VisualPolitik we are gonna answer all of those

 

/ 2 /

Why is COLOMBIA Not The Greatest Latin American Power? - VisualPolitik EN

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Canadian Mint / MNT.t ... Can. Dollar etf for Gold

 

MNT.T ... update

JMdVEA4.gif

 

Grand Columbian Gold / GCM.t ... Gold stock, quoted in C$

p203hsB.gif

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Ratio

gcm (in cad) to usd gold price

 

c4vRkhg.png

 

gcm.to / mnt.to - both in cad

MfBLXbf.png

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Sym.: Company------- : C$price: Low-High-- : ShOS : MktCap : $Cash : BkVal : Pr/BkV : Pr./Ls : Expense : Exp/sh.
==== : (11/24/17)
GCM : Gran Col.Gold - : $ 01.94 : $1.20-$2.23 : 20.45 : $40.5m : $7.34m : $11.21 : 17.35% :

====

Book Value now at : $229.320M / 20.45m shs = $11.21 / sh. !! - But cheaper debt will be connverted, see below

Current price is C$1.94. so only 17.35% of Book Value -- and 39% of adj. C$ 4.98 /sh. BookValue, see Notes below

 

 

Outlook : from Q3- Interim Report

=======

Gran Colombia has produced a total of 139,117 ounces of gold through the first ten months of 2017 and now believes it will produce a total of 165,000 to 170,000 ounces for the full year compared with the 149,708 ounces produced in 2016. Production growth at Gran Colombia’s Segovia Operations has been solid in 2017, even with the impact of a 42-day disruption in operations in the third quarter. With a total of 117,931 ounces of gold produced through the first ten months of 2017, Segovia is on pace to produce between 140,000 and 145,000 ounces this year, up from 126,261 ounces in 2016 and the Marmato Underground mine is expected to meet its 2017 production guidance range of 24,000 to 26,000 ounces of gold.

Gran Colombia’s total cash cost and AISC averaged $720 and $927 per ounce sold, respectively, in the first nine months of 2017. These results were adversely impacted by the civil disruption at Segovia in the third quarter of 2017. Despite this, Gran Colombia continues to expect that its fourth quarter 2017 operating and financial performance will bring the total cash cost and AISC averages for the full year 2017 to below $720 and about $900 per ounce sold, respectively.

 

Gran Colombia has deposited a total of $7.8 million representing its Excess Cash Flow for the first nine months of 2017 into the sinking funds for the Senior Debentures. Provided gold prices remain at least at the current level over the final two months of the year and Segovia’s gold production in November and December meets expectations, Gran Colombia expects to generate Excess Cash Flow for the full year in the order of $16 million and it will continue to consider, as appropriate, additional NCIB purchases and /or partial redemptions, if appropriate, as a means to reduce its 2020 Debentures ahead of maturity.

==

> http://www.grancolombiagold.com/news-and-investors/press-releases/press-release-details/2017/Gran-Colombia-Gold-Reports-Third-Quarter-2017-Results-Raises-2017-Production-Guidance/default.aspx

 

 

Debt -- : 12/31/16 : 09/30/17 :
CPLTD: $ 01,232K : $ 30,966K :
LTD--- : $ 85,022K : $ 63,030K :
Debt---: $ 86,254K : $ 93,996K :
Face-- : $150.90M : $141.62M : $9,279k / $1.95: 4.758M
/$1.95 : + 77.38M : + 72.63M : shs
EntVal. : $333.59M : $370.94M :
Sh.OS- : + 92.98M : + 93.08M : shs
Bk Val. : + $ 03.59 : + $03.99 : adj. for Conversion of Debt

x CAD : C$ 1.344 : C$ 1.247 :
Bk Val. : C$ 04.82 : C$04.98 : adj. for Conversion of Debt
Def.Tx : $ 49,922K : $ 64,456K :
Prov.- : $ 28,629K : $ 29,283K :
Equity : $ 182.69M : $229.32K :
Sh.OS : ++ 15.60K : ++ 20.45K :
PerSh. : + $ 11.72 : + $11.21 : (US$)
2018d: $ 49,743K : $45,970K : (08/11/18) $3,773K / $1.95: 1.935M

/$1.95 : + 25.51M : + 23.57M : shs

EntVal. : $232.43M : $275.29M :
Sh.OS- : + 41.11M : + 44.02M : shs
Bk Val. : + $ 05.65 : + $06.25 : adj. for Conversion of Debt, 1% debs
Bk Val. : C$ 07.60 : C$07.80 : adj. for Conversion of Debt, 1% debs
2020d: $101.16M : $48,696K : ( 01/02/20)
2024d: $000.00M : $46,955K : ( 01/02/24)
========================

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Outlook : from Q3- Interim Report

=======

Gran Colombia has produced a total of 139,117 ounces of gold through the first ten months of 2017 and now believes it will produce a total of 165,000 to 170,000 ounces for the full year compared with the 149,708 ounces produced in 2016.

Gran Colombia has deposited a total of $7.8 million representing its Excess Cash Flow for the first nine months of 2017 into the sinking funds for the Senior Debentures. Provided gold prices remain at least at the current level over the final two months of the year and Segovia’s gold production in November and December meets expectations, Gran Colombia expects to generate Excess Cash Flow for the full year in the order of $16 million and it will continue to consider, as appropriate, additional NCIB purchases and /or partial redemptions, if appropriate, as a means to reduce its 2020 Debentures ahead of maturity.

=======

Third Quarter First Nine Months

2017 2016 2017 2016

Operating data:

Gold produced (ounces) 37,039 39,111 122,122 108,829

Per Month, average 12,347 13,037 13,569 12,092

Gold sold (ounces) 33,932 39,017 117,545 107,605

=================== ====== ======

Q4 / 47,995 40,979
Year / 170.117 149,708

Revenues ----- Q4 / $62,393k $50,366k
Revenues ----- 9mo / $144,427k $133,708k
Oper.CF <int,tx 9mo / $ 48,327k $ 33,580k
OperCF- as % 9mo / 33.46% 25.11%
Revenues -- 12mo / $206,820k $184,074k
Oper.CF <int,tx 12mo/ $ 68,933k $ 47,703k
OperCF- as %. 12mo/ 33.33% 25.92%
-------- per oz. Q4 / $1,300 $1,229
-------- GLD Aver. / $125.0 $121.0 x 10.16
=========================== ======

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