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Elemental Royalties Notes Increased Wahgnion Planned Average Annual Production and Increased 2020 Guidance
Elemental Royalties Notes Increased Wahgnion Planned Average Annual Production and Increas...
About this update from Elemental Royalty Corporation
[{"type":"text","content":"\n\n\n\nElemental Royalties Notes Increased Wahgnion Planned Average Annual Production and Increased 2020 Guidance\n\n/* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n.prntac{\nTEXT-ALIGN: CENTER\n}\n\n\n\n\n\n\n\nCanada NewsWire\nVANCOUVER, BC, Aug. 6, 2020\n\n\n\n/THIS NEWS RELEASE IS NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES./\n VANCOUVER, BC, Aug. 6, 2020 /CNW/ - Elemental Royalties Corp. (\"Elemental\" or \"the Company\") (TSX-V: ELE) is pleased to note that Teranga Gold Corporation (\"Teranga\") (TSX: TGZ) has reported an updated life of mine plan and increased 2020 production guidance at its Wahgnion Gold Operation (\"Wahgnion\"), located in southwest Burkina Faso, West Africa. Elemental acquired a 1% net smelter royalty over Wahgnion from a third party in January 2020.\n\n \n \n \n \n \n \n\n \nHighlights:\nTeranga has increased Wahgnion's 2020 production guidance to between 150,000 – 165,000 ounces, a 15% – 18% increase from earlier guidance of 130,000 – 140,000 ouncesSince commissioning, Wahgnion's processing plant has performed approximately 25% above nameplate capacity for throughput and gold recoveredTeranga has also updated the Life of Mine plan to accommodate higher throughput capacity, increasing annual expected production by 25% with a corresponding reduction of mine life to 10 years based on the currently-defined Mineral ReserveAnnual gold production is expected to average 150,000 ounces through 2025A multi-year drilling and exploration program has commenced with the goal of extending mine life to 15 years at three existing deposit areas and more than a dozen exploration targets\"Since acquiring the royalty on Wahgnion in January we have been encouraged by the significant outperformance at the mine and Teranga's announcement of increased guidance has a very positive impact for Elemental\" commented Frederick Bell, CEO. \"The increase in expected production at a time of record gold prices is excellent news for the Company following our recent listing. We are also pleased that Teranga have annou...