Bear Creek reports lower second-quarter output on the back of contractor underperformance
TSX-V-listed Bear Creek Mining Corporation's Mercedes mine, in Mexico, produced 7 973 oz of gold and 33 932 oz of silver in the quarter ended June 30, a decrease on the 8 262 oz of gold and the 36 466 oz of silver produced in the first quarter of the year.
The company says the lower second-quarter production reflects the continued underperformance by a mining contractor engaged in late 2024 primarily to provide specialised equipment, personnel and mining services at the narrow-vein Marianas deposit.
"After repeated attempts to resolve the contractor's underperformance, the company took decisive action and terminated the mining services agreement in May.
"The company is currently implementing a comprehensive recovery plan for Mercedes' 2025 production and is finalising the transition of mining activities at the Marianas deposit to a replacement contractor to support enhanced efficiency and continuity. The Marianas deposit is expected to contribute the majority of Mercedes' production in 2025," Bear Creek states.
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