‘Right around the world we're still seeing supply chain issues’ - Victoria Gold’s John McConnell

Описание: Mining is still challenged by rising costs and supply-chain issues, said John McConnell, president and CEO of Victoria Gold.

In early May McConnell spoke to Kitco correspondent Paul Harris at Deutsche Goldmesse held in Frankfurt, Germany.

Victoria Gold is a single-asset producer, running the Eagle Gold Mine in the Yukon. This year’s gold production guidance is set at 165,000 to 185,000 ozs and cost guidance of US$1,450 to US$1,650 per oz of gold sold.

McConnell said the lift in the gold price has been nice, but the focus is still on the mining operations at Victoria Gold.

“We can be a little freer with capital expenditures, [but] we need to see this price sustained for a while,” said McConnell. “Our focus is still 100 percent on getting the Eagle Mine running properly. COVID was tough, and I have to quit blaming COVID for problems at the mine. Right around the world, we're still seeing supply chain issues, and you know they're slowly getting corrected. Costs have gone up, so we're trying to do things to contain costs.”

Coverage of Deutsche Goldmesse sponsored by Dynacor.

0:00 - Positive mood in mining sector
1:47 - Gold price heading higher and cash generation at Victoria Gold
4:06 - Heap leach issues at Victoria Gold
4:50 - With more cash, can Victoria Gold look at M&A?
6:16 - M&A surprises in 2024

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