Gran Colombia Gold Corp. on Thursday announced the release of its unaudited, condensed consolidated financial statements and accompanying management's discussion and analysis for the three- and six-month periods that ended June 30.
"We are continuing to see step-by-step improvement in our operating results as we implement the optimized mine plan at our Segovia Operations to further improve production and cash flow,”
Lombardo Paredes Arenas said. “After receiving a mandate from the board, GMP commenced preliminary discussions with note holders in the second quarter regarding the potential restructuring options and we hope to soon have further news in this regard."
Second quarter and first half 2015 highlights include:
• Total gold production in the second quarter increased by 19 percent over the first quarter this year to 28,495 ounces, bringing the first half total gold production to 52,468 ounces. Total gold production in July amounted to 11,417 ounces, including 9,362 ounces from the Segovia Operations.
• Revenue of $31.3 million in the second quarter of brought the first half total to $61.9 million, up 6 percent from the first half last year reflecting the increased gold production, offset partially by the impact on realized gold prices, averaging $1,177 per ounce, of 7 percent lower spot gold prices.
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