Lake Shore Gold Corp. announced Dec. 11 that has completed the first stage of its Timmins mill expansion.
The mill's new capacity of 2,500 tonnes per day represents a 25 per cent increase from the previous capacity. A second stage of expansion, to a capacity of 3,000 tonnes per day, is on track for completion during the second quarter of 2013.
"We are beginning to see the payback from a lot of hard work and investment over the last year,” said company president-CEO Tony Makuch in a statement.
“With increased mill throughput and improved grades, we are set to finish the year strong and to achieve full year production of over 85,000 ounces of gold.”
The company anticipates 2013 being a “break-out year,” according to Makuch, with progress being made at the mill, and in its development and drill programs at its Timmins West Mine.
“Our balance sheet is strong and we are financed to take Timmins West Mine to full production at which time we will be generating positive free cash flow."