Placer's Gold Production Forecast to Increase in 1996

摘要

John Willson, president and CEO of placer Dome Inc., Vancouver, B.C., said in remarks to investment analysts on pec. 12 that Placer Dome's share of gold production will increase to around 2 million ounces in 1996 from about 1.85 million ounces in 1995. Placer's cash cost of production is expected to be about 220 dollars per ounce for 1995 and 211 dollars per ounce for 1996. Production increases are planned in 1996 for the Dome and Detour Lake mines in Canada, the Golden Sunlight mine in the United States and the Porgera mine in Papua New Guinea. The corporation expects to maintain its exploration expenditures at more than 100 million dollars in 1996 to fund an accelerated pace of activities planned for Canada, the US including Alaska and Latin America. Placer is now producing gold at an annualized rate of more than 2 million ounces per year, according to Mr. Willson, and expects to reach its goal of 2.5 million ounces per year by 2000.