Brigus Gold Cuts Black Fox Gold Output Forecast
Brigus Gold Corp. said Wednesday its Black Fox Mine will produce between 14,000 and 15,000 ounces of gold this quarter, less than had been expected.
Production is lower than anticipated due to a slower ramp up of underground production and higher than expected dilution in the underground as the company develops and optimizes mining practices, Brigus said in a statement.
The company also said it hired a new general manager for the mine, which is in Matheson, Ontario, and which has about 1 million ounces of gold in reserves.
Shares were down 1.9 percent in midday trading.
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