Subject:........................................................
Stockwatch: Dayton Mining Corp - News Release
Date:
Thu, 15 Jul 1999 15:53:57 -0700
Dayton's Andacollo mine posts record output for quarter
Dayton Mining Corp DAY
Shares issued 350,500,000 Jul 15 close $0.09
Thu 15 Jul 99 News Release
Dayton Mining Corporation's 100-per-cent owned Andacollo gold mine in
central Chile produced a record 38,564 ounces of gold, at a cash operating
cost of $196 per ounce, for the quarter ended June 30, 1999.
This represents the highest quarterly gold production since the mine began
commercial production in January, 1996. Total material mined in the quarter
ending June 30, 1999, was 5.8 million tonnes. The mine crushed 1.5 million
tonnes of ore grading 1.00 grams of gold per tonne. Gold production for the
first half of the year totalled 71,447 ounces at a cash cost of $196 per
ounce.
Bill Myckatyn, chairman, president and chief executive officer, states: "We
are very encouraged with the operating successes that are being achieved at
Andacollo. Andacollo remains on track to produce the forecasted 138,000
ounces of gold for 1999 at a cash cost of $190 per ounce. The management of
Dayton and Andacollo are focusing our efforts on surviving this difficult
gold environment by developing the production potential of Andacollo and
lowering operating cash costs".
Dayton's hedge position for the second half of 1999 is 42,000 ounces of
puts at $340 gold per ounce.
Looks like there's plenty of "Gold" in them "thar hills"!
"BULLY"! |
