Blue Lagoon Reports First Finalized Gold and Silver Production from Dome Mountain
BLAGF sits 26% above its 52-week low of $0.32.
Summary
Blue Lagoon has achieved its first finalized production from Dome Mountain, with 992 ounces of gold and 4,181 ounces of silver confirmed in the initial concentrate lots. The company has received approximately CDN $16.5 million in provisional payments, representing about 85% of the provisional value of shipments to date. Mill-feed grades have risen to 8.0-10.0 g/t Au with 92% recovery, and an additional 875 DMT of concentrate is awaiting final assays. This marks the transition from development to full-cycle production, with ongoing weekly shipments and underground expansion. The remaining balance of payments is contingent on final settlement, and the company notes that amounts received are gross of costs and not indicative of profitability.
At the time of this announcement, BLAGF was trading at $0.40 on OTC in the Industrial Applications And Services sector, with a market capitalization of approximately $71.1M. The 52-week trading range was $0.32 to $0.82. This news item was assessed with positive market sentiment and an importance score of 7 out of 10. Source: ACCESS Newswire.