Detour Gold* (DGC : TSX : $21.20), Net Change: -0.78, % Change: -3.55%, Volume: 404,016
Straight ahead. Detour Gold announced the start of mining at its Detour Lake Mine. The first production line started with lowgrade material on January 12, 2013 and was followed by ore grade material. The company noted that ramp-up of the first production line is progressing with the SAG mill, the pebble crusher, and the ball mill all in operation. After close to one month of operation, and despite the usual teething issues, the operation team is happy to report that the fundamental parts of the circuits operate well. Next step will be the start-up of the secondary crusher to increase throughput. The gold inventory (in CIP and electrowinning) has been increasing in the circuit since start-up. It is expected to reach the level required to allow the first gold pour in mid-February. In parallel, the electrical and instrumentation work on the second production line is progressing well and start-up is expected in March 2013. Mining rates continue to increase and are scheduled to reach 150,000 tpd in early 2013. The fourth shovel was commissioned in December 2012. Currently, the company has a mining fleet of 20 haul trucks and four shovels, which more than meets the requirements of the 2013 mining operation. DGC also reiterated its 2013 guidance of gold production between 350,000 and 400,000 ounces of gold at cash costs between $800 and $900 per ounce.