LakeShore Gold (TSX: T.LSG, Stock Forum) late Monday said it is positioned for production growth of 40% or more in 2013, this according to a company news release.
The gold miner announced that it expects to produce 120,000 to 135,000 gold ounces in 2013, compared with 85,782 ounces of gold in 2012. Reported cash operating costs per tonne in 2012 was $115, below company target levels, and on a per ounce basis was US$996.
For 2013, capital investment on mine development and mill expansion projects is forecast at approximately $80 million, with an additional $10 million budgeted for exploration, largely in-mine drilling. Cash operating costs in 2013 are targeted at US$800 to US$875 per ounce, including royalties.