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Gold/Mining/Energy : Precious and Base Metal Investing

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To: Step1 who wrote (16026)	8/8/2003 9:37:06 AM
From: Eva	Read Replies (2) of 39344

Step It is Heinz <Rand price of Gold? Link to BGO? Yes, read it hear too: Bema Gold Corp (C-BGO) - In the News Globe/CP say Bema loses $4.1-million in Q2 Bema Gold Corp BGO Shares issued 318,524,765 Aug 7 2003 close $ 2.43 Friday August 8 2003 In the News The Globe and Mail reports in a Canadian Press dispatch Friday that Bema Gold says higher general and administrative expenses led to a $4.1-million loss in the second quarter (all figures U.S.). The unbylined item says the loss in the quarter ended June 30 was 1.3 cents a share, compared with a restated profit of $1.2-million or half a cent a share a year earlier. While gold revenue more than tripled to $26-million from $7.5-million, operating costs shot up to $19.6-million from $4.7-million. "Operating costs in the first six months reflect the acquisition of Petrex Mines (in South Africa) from Feb. 14 onward," Bema said. "Petrex completed mill modifications in July, which will result in lower cash costs and increased gold production once the ramp-up to full mill capacity has been achieved." In the quarter, Petrex Mines produced 38,362 ounces of gold at a cash cost of $354 an ounce. "The main reasons for the high cash costs were the strength of the South African rand versus the U.S. dollar and the mill ramp-up." Bema produced 68,197 ounces of gold at an average cash cost of $267 an ounce, compared with 30,394 ounces at $178 a year ago. Hope that puts ypu " at ease"

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