Argonaut lowers FY guidance as abnormal weather, mine sequencing impedes output

Canadian gold producer Argonaut Gold has lowered its full-year guidance by 15 000 gold-equivalent ounces (GEOs) to between 115 000 GEOs and 120 000 GEOs, after abnormally high rainfall and changes in mine sequencing impacted on production at the El Castillo mine, in Mexico. During the three months ended September 30, the TSX-listed company produced 26 322 GEOs, down 9% year-on-year. El Castillo produced 13 161 GEOs and its La Colorada mine, also in Mexico, recorded output of 13 161 GEOs.