The consolidated 18,746oz of gold produced in August helped lift year-to-date output 36% over the same period of 2017 to 143,621oz. For the preceding 12-month period, production is up 22% to 211,983oz, as at the end of August.

Executive co-chairman Serafino Iacono noted the strong grades at the Segovia operations underpinned the company's performance thus far, with head grades averaging close to 20 grams per tonne (gpt) in the eight months to August. For this reason, the company is guiding for full-year consolidated output of 210,000-220,000oz, up from the initial 2018 range of 182,000-193,000oz.

During the eight-month period, the Segovia operations lifted output 43% year-on-year to 127,101oz. In the comparable period of 2017, production at Segovia was negatively impacted by civil disruptions.

Segovia is now expected to produce between 185,000-195,000oz of gold - more than the company's initial consolidated full-year guidance.

The Marmato mine is also benefitting from increased grades, averaging about 3gpt in August, to produce 16,250oz gold during the first eight months - in line with the year-earlier period.

Citing continued growth in the company's high-grade Segovia operations, the company in August raised its 2018 guidance to more than 200,000oz of gold, compared with the 173,821oz produced in 2017.

The equity gained a penny Tuesday to close at C2.12 apiece, giving the concern a market valuation of about C$100.4 million.