In the third quarter, AGF made a net profit of US$1.80 million, almost 40% more than the previous two quarters combined.

It sold 1,563 ounces of gold and 206,843 oz of silver, generating gross revenue of US$6.05 million, compared with US$8.23 million in the first half of the year.

AGF also mined more ore in the quarter than in the preceding six-month period, with 186,295 tonnes of ore mined (H1: 98,800 tonnes). It stacked 106,863 tonnes of ore compared to 147,176 tones in the preceding two quarters.

In the third quarter AGF produced 1,427 oz of gold (H1: 2,579 oz) and 243,280 oz of silver (H1: 301,949 oz).

It reported cash operating costs of US$383 per gold equivalent ounce and total production costs of US$599 per gold equivalent ounce.

Overall for the entire nine month period AGF has now produced 4,006 oz of gold and 545,229 oz of silver. It has sold 3,925 oz of gold and 521,145 oz of silver, to generate US$14.28 million in revenue, US$6.48 million gross profit and US$2.85 million net profit.