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Gold/Mining/Energy : BLACK HAWK (TSE:BHK)

BHK 9.800

+0.9%

Oct 31 5:00 PM EST

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To: baystock who wrote (527)	6/16/2003 8:15:20 PM
From: Stephen O	Read Replies (1) of 545

Black Hawk Mining Inc. Reports Last Delivery Against Gold Forward Sale Contracts 6/16/03 TORONTO, ONTARIO, Jun 16, 2003 (CCNMatthews via COMTEX) -- BLACK HAWK MINING INC. (TSX- BHK) ('Black Hawk') today reported its last delivery against gold forward sale contracts. The Company has delivered the final 1,600 ounces required under its contracts. Black Hawk's future gold sales will be at the prevailing spot price. The London fix provides the gold market with a snap shot of the spot price of gold at a particular moment in time. Today's London p.m. fix for gold was US$358.30 per ounce. For the balance of this year, the Company expects to produce 33,000 ounces of gold at a cash operating cost of less than US$225 per ounce. BLACK HAWK MINING INC. is an international mining and exploration company that operates the Limon Mine in Nicaragua and holds prospective gold/silver exploration properties in Nicaragua and Canada. Black Hawk is listed on the Toronto Stock Exchange under the symbol BHK.

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