Harte Gold Foresees Substantial Output Surge in 2021

SEATTLE (Scrap Monster): Toronto, Canada-headquartered Harte Gold Corporation produced 25,649 ounces of gold in 2020. The yearly production exceeded the guidance of 20,000 to 24,000 ounces.  The quarterly production hit a new record of 10,825 ounces during the last quarter of the year. Meantime, the company foresees its output to range between 60,000 and 65,000 ounces of gold in the current year, driven by higher throughputs and reserve grades.

Harte Gold expects the cash costs to range between $800 and $850 per oz in 2021. The All-In Sustaining Costs are forecast around $1,400 to $1,550 per oz. The company expects that nearly two-thirds of its gold production this year would be unhedged. It proposes to spend C$26 million on mine development and C$5 million on regional exploration. Additionally, C$13 million will be spent on camp upgrade and on heavy equipment shop.

Commenting on the results, Frazer Bourchier, Harte Gold’s president and CEO noted that 2020 was a transitional year for the company. It implemented a series of operational enhancements at the Sugar Zone mine, which has resulted in record quarterly production and yearly production exceeding guidance, he added.

The company is due to report Q4 and full year 2020 results on 23^rd March, 2021.

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