Detour Gold Corp.
, Stock Forum
) has unveiled an updated life of mine plan for its Detour Lake open pit mine in northeastern Ontario.
The new mine plan supports a 21.7-year operating life with the current mineral reserves standing at 15.5 million ounces of gold, the company said in a press release.
Highlights of the mine plan include life of mine average annual gold production of 660,000 ounces at a total cash cost of $723 per ounce sold.
Detour Gold (T.DGC) unveils new life-of-mine plan for Ontario mine
Detour Gold shares eased 2.4% to $6.76, leaving a market cap of $933.9 million, based on 138.2 million shares outstanding. The 52-week range is $22.54 and $2.88.