Argonaut Gold Inc. (“Argonaut”, “Argonaut Gold” or the “Company”; TSX: AR) announced initial production results for the third quarter in 2015. Argonaut Gold is a Canadian gold company engaged in exploration, mine development and production activities. Its primary assets are the production stage El Castillo mine in Durango, Mexico, and La Colorada mine in Sonora, Mexico.
Pete Dougherty, Argonaut Gold’s President and CEO, said “Once again we have demonstrated the ability to maintain a strong cash position in spite of a challenging market. We have made several changes within our operations and organization to better position ourselves to grow the cash on the balance sheet at current gold prices. The bulk of our capital spending was front half loaded with the majority of our projects complete as of the third quarter. We anticipate capital spending to be lower in the fourth quarter and into 2016. We are confident in our ability to achieve the production guidance established for the year, while maintaining or growing our current cash balance.
In third quarter 2015 Argonaut Gold Inc announced production results 28,876 gold equivalent ounces (“GEO” or “GEOs”; calculated at conversion ratios set out below) during the third quarter ended September 30, 2015.
