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[posting]53054029[/posting]"Second Quarter 2016 Highlights Produced 7,855 ounces of gold. All-in operating cash cost of $849 per ounce (excluding royalties).(1) Positive operating cash flow, before working capital movements, of $1,978,754. Cash balance of $2,430,555 at the end of the quarter. Net profit of $99,173, which included Galaxy restart costs of $423,769. Galane Gold CEO, Nick Brodie commented: "The second quarter of 2016 saw the Company return to profit as production increased with the start of mining in the main ore body at Tau. We expect this trend to continue and production to increase in 2017 as we complete the development of the main ore body. In addition the Galaxy rehabilitation project commenced on July 1, 2016 with an estimated capital cost of $2 million. The increase in production at Mupane means we are currently able to fund the project from our own internal cash flows and add another potential 18,000 ounces of gold per annum to our output. Galaxy is a core feature of our long-term strategy with a desk top study commenced to increase production to 60,000 ounces in the long term." http://web.tmxmoney.com/article.php?newsid=6501875660122219&… |
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| aus der Diskussion: | Galane Gold - Spekulativer kleiner Goldförderer |
| Autor (Datum des Eintrages): | Ti-el (18.08.16 22:39:52) |
| Beitrag: | 10 von 420 (ID:53090628) |
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