12:39 PM EDT, 10/17/2024 (MT Newswires) -- Golconda Gold ( GGGOF ) Thursday said it produced 2,384 ounces of gold for the third quarter at its Galaxy Gold Mine, approximately a 50% increase compared to the previous quarter.

Over the first three quarters of the year, Galaxy produced 5,482 ounces.

"This is the third quarter in a row we have seen an increase in production compared to the previous quarter," said chief executive Nick Brodie. "A 50% increase in ounces, a 69% increase in ore mined and a 72% increase in development waste in Q3. In addition, we are on target to increase production by over 40% this year."

The company's shares were last seen up $0.01 to $0.27 on the TSX Venture Exchange.

Price: 0.27, Change: +0.01, Percent Change: +3.85