Capital Gold Corporation Announces Third Fiscal Quarter Financial Results
Wed Jun 10, 9:02 AM
ca.news.finance.yahoo.com
Over $12 Million in Gold Revenue
NEW YORK, June 10 /CNW/ -- Capital Gold Corporation (TSX: CGC; OTC Bulletin Board: CGLD) reported today a 42% increase in revenue for the third fiscal quarter, ending April 30, 2009, as compared to the third fiscal quarter of last year. Below is a table comparing both three and nine month performance for fiscal 2009 as compared to fiscal 2008.
Summary of Quarterly For the For the For the For the
Financial Results three months three months nine months nine months
(000's except per ended April ended April ended April ended April
share data) 30, 2009 30, 2008 30, 2009 30, 2008
--------------------
Revenues $12,395 $8,730 $32,934 $28,210
Net Income 2,554 2,740 7,687 6,613
Basic net income per
share 0.01 0.02 0.04 0.04
Diluted net income per
share 0.01 0.01 0.04 0.03
Gold ounces sold 13,347 9,466 38,037 28,210
Average price received $929 $922 $851 $826
Cash cost per ounce sold $263 $283 $261 $258
Total cost per ounce
sold $305 $337 $301 $321
Highlights from the first three months ending April 30, 2009, as compared to the same period last year include:
-- Revenue increased 42%.
-- Gold ounces sold increased 41%.
-- 22,991 ounces of silver sold during the current quarter; proceeds
amounting to $298,000.
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 over 65,000 ounces of gold since inception. 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, the impact of any hedging arrangements, including the termination of such arrangements; 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 expansion; 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.
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 Media
Victor Webb or Madlene Olson
both of Marston Webb International
+1-212-684-6601
+1-212-725-4709
marwebint@cs.com Web Site: capitalgoldcorp.com |
