The Guanaco mine in northern Chile is gearing up, with a Merrill Crowe processing plant recently constructed.
Amax Gold (NYSE), 90% owner, expects the heap-leach operation to start producing in April at an annual rate of 60,000 to 80,000 oz. In other news, Amax expects a first quarter loss of about US10 cents per share as a result of continued mill ore dilution and severe weather at its Hayden Hill mine in California. Also expected are lower mill heads at its Sleeper mine in Nevada.
Amax is fully evaluating Hayden Hill. The study, due early in the third quarter, will examine grade dilution problems in an attempt to increase long-term production.
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