Capital Gold Announces Record Gold Production Totals for December 2008
Tue Jan 6, 8:58 AM
ca.news.finance.yahoo.com
NEW YORK, Jan. 6 /CNW/ -- Capital Gold (TSX: CGC; OTC Bulletin Board: CGLD) announced today that it produced 5,375 ounces of gold in December at its El Chanate mine in Sonora, Mexico. This represents the Company's best monthly production to date, and surpasses the previous best monthly total of 4,750 ounces by 13%.
Capital Gold's Chief Operating Officer, John Brownlie, said, "This increased production is the result of careful planning and implementation of our production enhancement program that we initiated in mid-2008. The program will culminate with the installation of an additional crusher module, scheduled for late March. This will allow for further production increases." All of the financing for the program's upgrades and additions have been provided through operational cash flow.
About Capital Gold
Capital Gold Corporation (CGLD: CGC) is a gold production and exploration company. Through its Mexican subsidiaries and affiliates, it owns 100% of the El Chanate gold property in Sonora, Mexico. The Company has produced 40,000 ounces of gold in its first year of operation. Further information about Capital Gold and the El Chanate Gold Mine is available on the Company's website, www.capitalgoldcorp.com.
Statements in this press release, other than statements of historical information, are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Investors are cautioned that forward-looking statements are inherently uncertain. Actual performance and results may differ materially from those projected or suggested due to certain risks and uncertainties, some of which are described below. Such forward-looking statements include comments regarding the establishment and estimates of mineral reserves and non-reserve mineralized material, future increases in mineral reserves, the recovery of any mineral reserves, grade, processing rates and capacity, estimated future gold production, potential mine life and future growth of the company. Factors that could cause actual results to differ materially include timing of and unexpected events during construction, expansion and start-up; variations in ore grade, tonnes mined, crushed or milled; delay or failure to receive board or government approvals; the availability of adequate water supplies; mining or processing issues, and fluctuations in gold price and costs. There can be no assurance that future developments affecting the Company will be those anticipated by management.
Any forecasts contained in this press release constitute management's current estimates, as of the date of this press release, with respect to the matters covered thereby. We expect that these estimates will change as new information is received and that actual results will vary from these estimates, possibly by material amounts. While we may elect to update these estimates at any time, we do not undertake to update any estimate at any particular time or in response to any particular event. Investors and others should not assume that any forecasts in this press release represent management's estimate as of any date other than the date of this press release. Additional information concerning certain risks and uncertainties that could cause actual, results to differ materially from that projected or suggested is contained in the Company's filings with the Securities and Exchange Commission (SEC) over the past 12 months, copies of which are available from the SEC or may be obtained upon request from the Company.
Contact:
Jeff Pritchard, Executive Vice President Tel: (212) 344-2785
Capital Gold Corporation Fax: (212) 344-4537
Email: pritchard@capitalgoldcorp.com
Kelly Cody, Director, Corporate Communications Tel: (212) 344-2785
Capital Gold Corporation Fax: (212) 344-4537
Email: kelly@capitalgoldcorp.com
Media Inquiries
Victor Webb/Madlene Olson Tel: (212) 684-6601
Marston Webb International Fax: (212) 725-4709
Email: marwebint@cs.com
Contacts
Jeff Pritchard
Executive Vice President
pritchard@capitalgoldcorp.com
or Kelly Cody
Director
Corporate Communications
kelly@capitalgoldcorp.com
both of Capital Gold Corporation
+1-212-344-2785
Fax: +1-212-344-4537
or Victor Webb or Madlene Olson
both of Marston Webb International
+1-212-684-6601
Fax: +1-212-725-4709
marwebint@cs.com Web Site: capitalgoldcorp.com |
