Gran Colombia Jumps After Reporting Record Segovia Output

Gran Colombia Gold Corp. (GCM), a Canadian miner producing the precious metal in the Andean nation, rallied after saying average output rose to a record at its Segovia operations.

Gran Colombia soared 9 percent to C$2.39 at the close in Toronto.

Daily gold production at Segovia in April and May rose 11 percent from the first quarter to 235 ounces a day, Gran Colombia said today in a statement.

“In May, we achieved the highest monthly production in the company’s history at our Segovia operations,” Serafino Iacono, Executive Co-Chairman of Gran Colombia, said in the statement.

Last week gold prices in New York slumped below $1,300 an ounce for the first time since September 2010.

To contact the reporter on this story: Andrew Willis in Bogota at

To contact the editor responsible for this story: James Attwood at

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