Lake Shore Gold is a gold mining company that is in production and pursuing rapid growth through the successful exploration, development and operation of three wholly owned, multi-million ounce gold complexes in the Timmins Gold Camp. The Company has two operating mines (Timmins West and Bell Creek) and a central mill. Production in 2014 totaled 185,600 ounces, which exceeded the Company’s target range for the year of between 160,000 and 180,000 ounces of gold. The 2014 performance was the third consecutive year that the Company met or exceeded its production target, a period during which annual production more than doubled. Cash operating costs(1) and all-in sustaining costs(1) in 2014 averaged US$592 and US$872 per ounce sold, respectively, with both measures beating the target range for the year.
In addition to its current operations, the Company also has a number of highly prospective projects and exploration targets to drive its future growth, including its144 Gap and 144 Gap SW zone discoveries. Announced in October 2014, the 144 Gap Zone is a large zone of gold mineralization located southwest of the Timmins West Mine. The zone remains open for expansion. The 144 Gap SW Zone was discovered in June 2015 within 200 metres of the 144 Gap Zone. The Company is also targeting areas of the 144 Trend further to the southwest of these two discoveries for potential additional discoveries.
At the Bell Creek Complex, the Company has significant potential to grow the Bell Creek Mine, given its large resource. Also, through the acquisition of Temex Resources Corp. in September 2015, the Company now owns a 60% interest in, and is the operator, of the Whitney Project (“Whitney”). Whitney covers a large land position adjacent to Bell Creek Complex. It has a significant existing resource and attractive exploration potential.
The Company’s common shares trade on the TSX and NYSE MKT under the symbol LSG.
- Example of Non-GAAP measure. See the Company’s Management’s Discussion & Analysis for the second quarter and first-half of 2015, available on this website, for a detailed review of Non-GAAP measures relating to the year 2014.