A surge into profit at its San Gregorio mine in Uruguay should just be the start of a run of consistently good quarters, believes Orosur Mining’s chief executive Ignacio Salazar.
Add in a new, potentially high grade gold asset in Colombia, virtually no debt and a healthy margin with gold at US$1,260 and Salazar explains to Proactive he is very happy at present.
A new underground operation at San Gregorio West is set to start up imminently, while ‘painful’ measures taken over the past three years have seen costs tumble.
All-in sustaining costs were below US$1,000 in its latest quarter even after extensive exploration around San Gregorio.
Last week Orosur reported that this exploration had unearthed potential new deposits all around the mine.
Story by ProactiveInvestors