To: Terry Swift who wrote (9814 ) 2/4/1999 4:30:00 PM From: grampa Read Replies (1) | Respond to of 10482
Hi Terry--let's see if I do this right---- Bema Gold Corporation announces Refugio Mine: Improved Gold Production PR Newswire - February 04, 1999 14:58 VANCOUVER, Feb. 4 /CNW-PRN/ - Bema Gold Corporation (''the Company'') is pleased to announce a significant improvement in gold production at the 50% owned Refugio Mine in Northern Chile during the fourth quarter in 1998 and into 1999. Bema's share of fourth quarter 1998 gold production totaled 24,340 ounces of gold with cash operating costs of $246 per ounce and total cash costs of $251 per ounce. This represents a significant improvement over third quarter production results, due primarily to improvements in the conveying and crushing facilities. Gold production in January continued to improve with the Company's share of production at 8,908 ounces of gold. For 1999 the Company's share of production from the Refugio Mine is estimated at approximately 110,000 ounces. Based on the Company's gold hedge position the realized revenue per ounce for 1999 will be approximately $385. The Company remains in a strong financial position with year-end working capital of U.S.$18.8 million and cash of U.S.$14.1 million. On Behalf of BEMA GOLD CORPORATION ------------------------- Clive T. Johnson Chairman, President & CEO All of the above numbers are unaudited. The Vancouver and Toronto Stock Exchange neither approves nor disapproves the information contained in this News Release. Bema Gold Corporation trades on the Vancouver, Toronto and American Stock Exchanges, symbol: BGO. Some of the statements contained in the news release are forward-looking statements, such as estimates and statements that describe the Company's future plans, objectives or goals, including words to the effect that the Company or management expects a stated condition or result to occur. Since forward-looking statements address future events and conditions, by their very nature, they involve inherent risks and uncertainties. Actual results in each case could differ materially from those currently anticipated in such statements. SOURCE: Bema Gold Corporation /CONTACT: John D. Anderson, Director of Investor Relations (604) 681-8371 or toll-free 1-800-316-8855/ Bema Gold Corporation announces Refugio Mine: Improved Gold Production