Integra Mining

In its first year, Integra Mining’s maiden mine produced almost 90,000 ounces of gold at a cash cost of under $600 an ounce. That stellar performance is proving hard to replicate; the miner yesterday announced lower production and higher costs as a result of mechanical failures at its processing plant. Production will stop for four days so a crusher can be repaired. As rocks are dug they must be crushed to a predetermined size before undergoing further processing. The crusher had been re-crushing ore unnecessarily, using valuable power and slowing output. Integra had previously estimated it would produce 16,000 ounces...

In its first year, Integra Mining’s maiden mine produced almost 90,000 ounces of gold at a cash cost of under $600 an ounce. That stellar performance is proving hard to replicate; the miner yesterday announced lower production and higher costs as a result of mechanical failures at its processing plant. Production will stop for four days so a crusher can be repaired. As rocks are dug they must be crushed to a predetermined size before undergoing further processing. The crusher had been re-crushing ore unnecessarily, using valuable power and slowing output. Integra had previously estimated it would produce 16,000 ounces of gold in the current quarter but that is now unlikely to happen.

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