Gran Colombia Gold's production in July 2013 tops 9,000 ounces for third consecutive month

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[{"type":"text","content":"\n\n\nTORONTO, Aug. 21, 2013 /CNW/ - Gran Colombia Gold Corp. (TSX: GCM,\n OTC:TPRFF) announced today that it produced a total 9,441 ounces of\n gold and 10,794 ounces of silver in July 2013 from its underground\n mining operations at Segovia and Marmato in Colombia. This brings\n year-to-date total production to 60,942 ounces of gold and 89,201\n ounces of silver.\n\n\nSerafino Iacono, Executive Co-Chairman of Gran Colombia, commenting on\n the production update, said, \"This marks the third consecutive month\n that our total gold production has exceeded 9,000 ounces and over the\n last five months, we have averaged 9,126 ounces of gold, putting us on\n an annualized pace of approximately 110,000 ounces. With expected\n improvements in grades to come from mine development in the fourth\n quarter at our Segovia Operations, we remain on track to meet our 2013\n production guidance of 110,000 ounces of gold.\"\n\n\nJuly also marked the fifth consecutive month that the Maria Dama plant\n processed an average of more than 1,000 tonnes per day (tpd). Head\n grades at the Segovia Operations improved by about 4% over the second\n quarter average to 8.3 g/t, benefitting from an increase in grades in\n the ore sourced from the contract miners. Gold production from the\n Segovia Operations amounted to 7,276 ounces in July, bringing the\n year-to-date total to 48,219 ounces of gold.\n\n\nProcessing 793 tpd at an average head grade of 3.0 g/t in July, the\n Marmato underground mine had its strongest production month since the\n beginning of 2012, with a total of 2,165 ounces of gold. Year-to-date\n gold production at Marmato amounted to 12,723 ounces of gold.\n\n\nTo date, the company has successfully implemented significant cost\n reductions in its business model that have already resulted in a\n substantial reduction in all-in sustaining cost to about the $1,200 per\n ounce level. These actions, coupled with the steady progress in\n production, are expected to lower the all-in sustaining cost to below\n $1,150 per ounce by the fourth quarter of 2013.\n\n\nAbout Gran Colombia Gold\n\n\nGran Colombia is a Canadian-based gold and silver exploration,\n development and production company with its primary focus in Colombia.\n Gran Colombia is currently the largest underground gold and silver\n producer in Colombia with several underground mines...

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