Argonaut pours first gold at its Magino mine in Ontario, expects commercial production in Q3 2023 Argonaut
- On Thursday, Argonaut Gold announced that it achieved first gold pour at its Magino mine in Northern Ontario on June 14th, 2023.
Magino is expected to produce between 72,000 to 81,000 ounces of gold in 2023 at cash costs of between $850 and $950 per ounce and approximately 148,000 ounces of gold at a cash cost of $868 per ounce in 2024, its first full year of production. In parallel, a review of mill optimization and expansion opportunities will commence in the third quarter, to potentially raise throughput rates and increase annual production.
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