Lake Shore Gold (TSX: T.LSG, Stock Forum) late Thursday reported 2012 gold production of 85,782 ounces, which was in line with company guidance, this according to a company news release.
For 2013, the junior gold miner forecasts production to increase to between 120,000 and 135,000 ounces of gold with cash costs between US$800 and US$875 per ounce. Project spending is expected to be approximately $80 million with exploration spending of $10 million.
"We finished 2012 strong with higher production and improved grades during the fourth quarter… Equally important, we met our key mine development and mill expansion objectives, including increasing both our mining and milling capacity by 25% to 2,500 tonnes per day. We remain on track to increase production capacity to 3,000 tonnes per day during the second quarter of this year," said Lake Shore Gold President and CEO Tony Makuch.