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Gold/Mining/Energy : MIRAMAR MINING (MNG) -- Ignore unavailable to you. Want to Upgrade?

To: Frank Pembleton who wrote (354)	7/17/2001 2:21:26 PM
From: Frank Pembleton	Read Replies (1) \| Respond to of 457

Miramar's Yellowknife Operations Exceed Second Quarter Expectations - Record Refractory Production of 17,568 Ounces a Major Contributor - MAE - TSE MAENF-OTC Bulletin Board VANCOUVER, July 17 /CNW/ - Miramar Mining Corporation announced today that its Yellowknife operations, the Con and Giant Mines, produced and shipped a total of 36,760 ounces of gold at a cash cost of US$255 per ounce during the second quarter of 2001, versus 30,060 ounces of gold at a cash cost of US$269 per ounce in the same period of 2000. This brings first half 2001 production to 65,937 ounces at a cash cost of US$258 per ounce vs 56,202 ounces at a cash cost of US$276 per ounce during the same period in 2000. "Production at the Yellowknife operations continues to be favourable to plan," said Tony Walsh, Miramar's President & CEO. "This puts us in a strong position to meet or exceed our production forecast for 2001 of 125,000 ounces of gold at cash costs of US$260 per ounce. Significantly, in the quarter our operations delivered on our strategy of generating free cash flow at current commodity prices while completing concurrent reclamation," added Mr. Walsh. Collectively the Con and Giant Mines generated approximately $1.5 million in free cash flow after accounting for all direct site mining, milling and administrative costs, all mine development and capital expenditures and all concurrent arsenic remediation and reclamation activities. biz.yahoo.com