Lake Shore Gold +12% on record Q2, H1 output

Lake Shore Gold (LSG +12%) surges after reporting record Q2 production, recording a 70% Y/Y rise in gold production, and H1 2014 output of 96,900 oz., a 79% Y/Y increase.

LSG, which owns three multimillion-ounce gold complexes in the Timmins gold camp in northern Ontario, produced 52,300 oz. of gold, placing it on track to achieve the top end of its production guidance of 160K-180K oz. of gold this year.

LSG said it had poured and sold some 53,500 oz. of gold during the quarter at an average selling price of $1,289/oz., vs. 27,600 oz. sold in the year-ago quarter at an average price of $1,409/oz.

Lake Shore’s Toronto-listed stock rose to a new 52-week high on Friday on the report, which was issued after Thursday's close.

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