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Strategies & Market Trends : YEEHAW CANDIDATES -- Ignore unavailable to you. Want to Upgrade?

To: Galirayo who wrote (10643)	8/10/2005 8:14:39 PM
From: Ditchdigger	Respond to of 23958

Well Ray, tomorrow after the bell is earnings report time for BGO, and I'm going to hold through them!<lol>..Actually I'm hoping things are looking up a bit on Julietta production results. This from their last Q report. "Julietta Mine, Russia (Bema 79%) During the quarter, Julietta processed 40,307 tonnes of ore at an average grade of 14.67 grams per tonne, producing 16,300 ounces of gold at an operating cash cost of $270 per ounce and a total cash cost of $323 per ounce. Julietta had a mine operating loss of $1.6 million for the period, but generated cash from operations of approximately $700,000. The high operating costs during the quarter were a result of lower than budgeted gold and silver grades being processed, higher fuel charges and mine equipment availability being low, causing delays in backfilling and subsequently stope availability. Higher grade ore is being mined in the second quarter and in order to improve productivity and equipment availability, additional supervision has been added to the underground and maintenance departments. Furthermore, additional underground equipment ordered in the fourth quarter of 2004 has been received and is now operating. As a result, Julietta has exceeded budget thus far in the second quarter. For the same period last year, Julietta milled 37,171 tonnes of ore at an average grade of 19.5 grams per tonne gold, producing 20,314 ounces of gold at an operating cash cost of $184 per ounce and a total cash cost of $224 per ounce. Exploration continues at Julietta where a total of approximately 24,000 metres in 179 surface and underground holes have been completed thus far, this year. Significant near surface results in V-5 vein has resulted in some adjustment in the mine plan to mine near surface material. Drill results from a 75 metre long zone in the V-5 vein contained up to 48.3 grams per tonne (g/t) gold and 245 g/t silver over 5.95 metres (hole 1141), 40.3 g/t gold and 568 g/t silver over 3.85 metres (hole 1172), and 32.5 g/t gold and 547.3 g/t silver over 4.6 metres (hole 1176). At 60 meters below surface in the same zone, hole 1149 contained 56.4 g/t gold and 103 g/t silver over 4.4 metres. Julietta's mining department is currently reviewing these results to evaluate scheduling of production from this zone."