Glamis boosts gold production

Production of 77,882 oz. gold in fiscal 1993 enabled Glamis Gold (NYSE) to chalk up a 2% increase over 1992 production of 76,474 oz.

Glamis operates two heap-leach mines in California and recently started up the Baltic mine in the same state. This new operation is expected to produce 40,000 oz. in fiscal 1994.

Glamis’ cash cost of production was US$186 per oz. in fiscal 1993, up from the prior year’s figure of US$180 per oz. The increase resulted from increased ore-to-waste stripping ratios at both mines.