Dear Liz I have done some follow up work on your reply on the Nugget Pond Mine "Small But Losing Money"
Nugget Pond Contributes positive results
For the third Quarter 36,300 tons of ore at a grade of .31 gold per ton were mined at the Nugget Pond Mine contributing to a strong third quarter for Richmont Mines Inc.
The yield produced 11 200 ounces of gold at a cost of 140 per Oz. During the third quarter of 1997, the nugget pond mine produce 30,600 tons of ore at a grade of .40 ounces at a cash cost of US 133 per Ounce.
Richmont mines Inc reports excellent results for third quarter ending Sept 30 1998. During this period, gold production reached a record high of 25,300 ounces at a cash of US 177 per ounces compared with 22,500 ounces at a cash cost of US 215 per ounces for last years corresponding quarter.
Revenues for the third quarter reached 12,072,563 compared with 11,606,798 in 1997 while net earnings were 1,391,671 or .09 per share versus 1,004,045 or .07 per share for the corresponding quarter last year. During this period operation cash flow reached 3,948,284 or .25 per share compared with 3,518,849 or .23 per share during the same quarter during the same quarter of 1997.
For the nine-month period ended sept, 1998 revenues increased 39 per cent to 36, 885,643 from 26,596,690 in 1997 stated a press release from the company.
Net earnings were up 156 per cent to 3,758,538 or .24 per share from 1,465,565 or .10 per share in 1997. Operating cash flow for this period reached 13,864,034 or .88 per share compared with 5,530,322 or .37 per share for the first nine-months of 1997. gold production was
74 000 ounces at a cash cost of US182 per ounce compared with 49,300 ounces at a cash cost of US 217 per ounce for the same period in 1997
Regardless of the diffucult times affecting the gold sector, Richmont continues to improve it finanical position. said President Jean-Guy Rivard.
The company's long term debt has fallen from 11,046,400 as of sept 30 1997 to 4,493,600 at the same date in 1998 while cash and eqiuivalents increased to 16,548,837 from 9,922,431 last year. Richmont Mines is always searching for other profitable gold prospects in its pursutes of growth.
Liz, small and losing money, Do your home work before you make statements like the one you just made. Your just making yourself look stupid as everyone Knows you were wrong. I the future make sure you know what you talking about or just don't reply at all. There's enought bulls*** here as it is.
Steve
This peice is from the Voisey Bay News |
