(Kitco News) - After a little over six years to the day, Detour Gold Corp. (TSX: DGC) has taken its Detour Lake Mine from an exploration property to what is expected to be Canada’s largest gold producer.
Detour acquired the property Jan. 31, 2007 and poured its first gold bars Monday, totaling over 2,000 ounces and generating $3.5 million in revenue.
Gerald S. Panneton, company founder, president and chief executive officer, believes that the team Detour put together is one of the main drivers in building an exploration company to an operating company.
"""""""“The biggest thing from exploration to development to operation is the people,” """"""!!!!!!Panneton said. “You would not be able to do it on your own, so, you have to surround yourself with the right people and I think we were able to that over the last, say three to four years.
“And now I think the reward of this achievement is coming towards us by starting the gold production on time and on schedule, as per our schedule we outlined in our feasibility study almost three years ago.”
The Detour Lake open pit mine, located in northeastern Ontario, will be Canada’s largest gold producer once it hits full production.
On average over the next 21.5 years, the mine is projected to produce an annual average of 657,000 ounces of gold.
Panneton said that the company’s 2013 guidance is on track.