TORONTO, July 15, 2021 (GLOBE NEWSWIRE) – Gran Colombia Gold Corp. (TSX: GCM; OTCQX: TPRFF) today announced that it produced a total of 16,789 ounces of gold at its Segovia operations in June 2021, bringing total gold production for the second quarter of 2021 at 52,198 ounces compared to 44,377 ounces of Segovia in the second quarter of 2020. The Company also produced 54,573 ounces of silver in Segovia in the second quarter of 2021, compared to 41,342 ounces of silver in the second quarter of the last year. For the first half of 2021, Segovia’s gold and silver production totaled 101,256 ounces and 111,888 ounces, respectively, compared to 94,723 ounces of gold and 87,260 ounces of silver in the first half of 2020.
Lombardo Paredes, CEO of Gran Colombia, commenting on the company’s latest results, said: “We continued our momentum in the second quarter of 2021. With our last 12 months of total Segovia gold production at the end second quarter of 202,895 ounces, up 3% from 2020, we remain on track to meet our production targets in Segovia for the full year of 200,000 to 220,000 ounces of gold . Maria Dama’s expansion to 2,000 tpd is going well and commissioning of the new polymetallic plant in Segovia will begin in the third quarter. Our cash usage is typically highest in the second quarter of each year as we make the required installment payments in Colombia. In May 2021, we also used $ 10.4 million in cash to finalize an optional early redemption of our gold notes ahead of schedule. At the end of June 2021, we had approximately US $ 57 million in cash and the total principal amount of our outstanding gold notes and convertible debentures has been reduced to US $ 19.75 million and US $ 18 million. Canadian dollars, respectively. We are very pleased with our progress in the first half of 2021, including the successful acquisition of the Toroparu project in Guyana and the recently announced high grade drilling results from our ongoing exploration programs in Segovia. “
The Segovia operations processed an average of 1,581 tonnes per day (“tpd”) in the second quarter of 2021 with an average head grade of 12.6 g / t versus 1,211 tpd at an average head grade of 13.9 g / t in the second quarter last year. It should be noted that production for the second quarter of 2020 was affected in the first half of April 2020 by the first stages of adapting operations in Segovia to the pandemic. For the first half of 2021, the Segovia Operations processed on average 1,526 t / d with an average head grade of 12.7 g / t, against 1,247 t / d at an average head grade of 14.4 g / t in the first half of last year.
Webcast of second quarter 2021 results
Gran Colombia announced today that it will release its second quarter and first half 2021 results after market close on Thursday August 12, 2021 and will host a conference call and webcast on Friday August 13, 2021 at 9:00 a.m. Is to discuss the results.
The details of the webcast and call are as follows:
A replay of the webcast will be available on www.grancolombiagold.com from Friday August 13, 2021 to Friday September 10, 2021.
Quarterly payment for the amortization of gold banknotes on August 3, 2021
Gran Colombia today announced the details of the upcoming quarterly repayment of its 8.25% Senior Secured Gold Linked Notes due 2024 (the “Gold Notes”) (TSX: GCM.NT.U ) as following :
|Payment date:||August 3, 2021|
|Registration Date :||July 26, 2021|
|Cash payment amount:||Approximately US $ 0.12881677 per US $ 1.00 principal amount of gold notes issued and outstanding on the record date representing a principal amortization payment of approximately US $ 0.08829114 per US $ 1.00 principal amount of gold notes and a gold premium of approximately US $ 0.04052563 per US $ 1.00 principal amount of gold notes. Based on the London PM Fix on July 15, 2021 of US $ 1,823.75 per ounce, the total amount of cash payments on the Payment Date will be US $ 2,544,131, of which US $ 1,743,750 will be applied to reduce the total principal amount of the gold banknotes. issued and outstanding and the balance represents the gold premium.|
|Principal amount issued
|As of today, there is a total of US $ 19,750,000 in principal of gold banknotes issued and in circulation. After this quarterly repayment, the total principal amount of the Gold Notes as of August 3, 2021 will be reduced to US $ 18,006,250.|
Monthly dividend declaration
Gran Colombia also announced today that its board of directors has declared that the next monthly dividend of C $ 0.015 per common share will be paid on August 16, 2021 to shareholders of record as of the close of business on July 30, 2021.
About Gran Colombia Gold Corp.
Gran Colombia is a mid-level gold producer with a proven track record in the construction and operation of mines in Latin America. In Colombia, the Company is currently the largest underground gold and silver producer with several operating mines at its high-grade operations in Segovia. In Guyana, the Company is advancing the Toroparu project, one of the largest undeveloped gold projects in the Americas. Gran Colombia also has an approximate 44% stake in Aris Gold Corporation (TSX: ARIS) (Colombia – Marmato), an approximately 27% stake in Denarius Silver Corp. (TSX-V: DSLV) (Spain – Lomero-Poyatos; Colombia – Guia Antigua and Zancudo) and an approximate 26% stake in Western Atlas Resources Inc. (TSX-V: WA) (Nunavut – Meadowbank).
Additional information about Gran Colombia is available on its website at www.grancolombiagold.com and by viewing its profile on SEDAR at www.sedar.com.
Caution regarding forward-looking information:
This press release contains “forward-looking information”, which may include, but is not limited to, statements regarding the production, redemptions of its gold notes, payment of dividends and other anticipated business plans or strategies. . Often, but not always, forward-looking statements can be identified by the use of words such as “plans”, “expects”, “is planned”, “budget”, “planned”, “estimates”, “forecasts”. “,” Hears “,” anticipates “or” believes “or variations (including negative variations) of these words and expressions, or declares that certain actions, events or results” could “,” could “,” would be “, “could” or “will” be taken, will occur or will be made. Forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause Gran Colombia’s actual results, performance or achievements to be materially different from future results, performance or achievements expressed or implied by forward-looking statements. Factors that could cause actual results to differ materially from those anticipated in such forward-looking statements are described under r ubric “Risk Factors” in the Company’s Annual Information Form dated March 31, 2021, which can be viewed on SEDAR at www. sedar.com. The forward-looking statements contained herein are made as of the date of this press release and Greater Colombia disclaims, except as required by law, any obligation to update any forward-looking statements, whether as a result of new information. , results, future events, circumstances, or if management’s estimates or opinions should change, or otherwise. There can be no assurance that forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Therefore, the reader is cautioned not to place undue reliance on forward-looking statements.
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