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Lake Shore Gold Raises 2014 Gold Production Target from 140K-160K Oz to 160K-180K Oz

Lake Shore Gold (NYSE: LSG) today provided updated guidance for 2014, including target gold production of 160,000 to 180,000 ounces. Previously, the Company had indicated a target range for annual production of 140,000 to 160,000 ounces. Other guidance for 2014 includes cash operating cost per ounce sold between US$675 and US$775 and all-in sustaining cost per ounce sold between US$950 and US$1,050. Tony Makuch, President and CEO of Lake Shore Gold, commented: "Lake Shore Gold's operations are performing extremely well, with both throughput and average grades meeting and exceeding target levels. Our strong performance has positioned us to increase our production guidance for 2014. Looking at our costs, we are a low-cost producer and believe that more progress on this front is achievable. We have strengthened our balance sheet, both through internally generated cash flow and by repaying debt. By the end of this month, we will have repaid around $15 million of debt in 2013 and will further reduce our debt levels going forward." About Lake Shore GoldLake Shore Gold is a gold mining company that is in production and is generating free cash

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Posted-In: News Guidance Contracts Management Global

 

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