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 awillis21@bloomberg.net

To contact the editor responsible for this story: James Attwood at jattwood3@bloomberg.net

Press spacebar to pause and continue. Press esc to stop.

Bloomberg reserves the right to remove comments but is under no obligation to do so, or to explain individual moderation decisions.

Please enable JavaScript to view the comments powered by Disqus.