Claude Resources Inc. (TSX:CRJ) reported its preliminary production results from its wholly-owned Seabee Gold Operation. The project produced roughly 15,100 ounces of gold, a 24 percent increase from Q2 production numbers.
As quoted in the press release:
During the fourth quarter of 2012, the Company expects to complete the Seabee shaft extension. The shaft will be shut down for approximately 4-5 weeks. The Company expects to continue milling during this period and consequently expects to meet its production guidance of 48,000 to 50,000 ounces for the full year. The shaft project will extend the shaft to 980 metres from its current depth of 600 metres. This extension is expected to improve operating efficiencies and significantly lower operating costs on the Seabee ore body.
Claude Resources President and Chief Executive Officer, Neil McMillan, stated:
We are pleased with third quarter production and excited about our opportunity to continue to increase production in the coming years. Our operating staff deserves a great deal of credit for these results and gives us confidence in our ability to meet our targets going forward.