North of 60 Mining News - The mining newspaper for Alaska and Canada's North

Mill upgrades boost Hope Bay gold output

North of 60 Mining News – January 19, 2018


Last updated 9/24/2020 at 6:03pm

TMAC Resources Inc.

TMAC Resources reached commercial production at its Hope Bay Mine in 2017. Mill difficulties, however, have prevented this gold mine from reaching its full operating capacity.

TMAC Resources Inc. Jan. 15 reported the sale of 17,350 ounces of gold for US$1,275 per ounce, for US$22.1 million, from its Hope Bay Mine in Nunavut during the fourth quarter.

For the full year, 49,040 oz of gold was poured during the first year of operation at Hope Bay, of which 46,990 oz were sold generating US$59.7 million of revenue for the year and 2,050 ounces were doré or refined.


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