Almas Resources: Emerging Diamond Producer

Gahcho Kué Production Set on the Rise

November 29, 2018

Production at the Gahcho Kué mine is set to exceed expectations for 2018 before increasing steadily over the next three years, according to Rapaport.

The total output is expected to be above its upper forecast of 6.6 million carats this year, which will then rise to a range of 6.6 million to 6.9 million carats in each of 2019 and 2020, followed by 6.8 million to 7.1 million carats in 2021.

“Our business plan demonstrates the quality of our core asset and the excellent work that the operations team has carried out over the past year, both in exceeding the targets for the current year, and building a stronger longer-term business plan that should extend the life of mine beyond [the current plan of] 2028,” said Mountain Province CEO Stuart Brown.

Gahcho Kué production was 5.9 million carats in its first full year of operations – 2017. The asset yielded 5.4 million carats in the first nine months of 2018, which made up a 25% increase compared to the same period of 2017.

Source: Rapaport

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