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[hpoth]

Wer kennt River Gold Mines?, und kann darüber etwas berichten.
Gruß hpoth

[ThaiGuru]

@hpoth

Zu Deiner Anfrage zu River Gold Canada *RIV.TO*. einige Informationen. Halte die Firma als sehr gutes Langzeitinvestment, mit viel Upsidepotenzial.

Gruss

ThaiGuru


Der 4. Quartal Bericht von River Gold im PDF Format:

http://www.rivergoldmine.com/RGM%20Q4%202001.pdf

River Gold Mines Ltd. is an established gold mining and exploration company with two operating mines and a mill in the Wawa gold camp of Northwestern Ontario.

River Gold Mines Ltd. was formed in 1994 through a restructuring of Central Crude Ltd. The Company raised $17.3 million in equity to place the Eagle River mine into production. Since the first gold pour in October 1995, the Company has acquired a milling facility and expanded it to 1,000 tonnes per day capacity; acquired the Edwards property and brought it into production; produced in excess of 400,000 ounces of gold; and paid out $3.7 million in dividends.
Acquisitions during a weak gold market have strengthened River Gold’s potential for growth and a $12 million shaft project is nearing completion at the Eagle River mine. The Company’s strengths are quality, high grade, gold deposits and a talented, efficient, operating team.

River Gold is unhedged and strongly leveraged to the gold price. Over the next three years, production will come from higher grade portions of the mines. While financial circumstances are currently tight, a return to reasonable gold prices would lead to healthy profits.

River Gold’s shares trade on the Toronto Stock Exchange under the symbol "RIV". At December 31, 2000, there were 31.2 million shares issued and outstanding.



December 31, 2001

2001 was a turnaround year which saw record production of 89,900 ounces of gold produced at a cost of US$198 per ounce compared to 85,100 ounces produced at a cost of US$223 per ounce in 2000. This resulted in a return to profitability generating earnings of $0.93 million and cash flow of $7.99 million compared to a loss of $7.22 million* and cash flow of $4.17 million in 2000.


Operationally, the improved results reflect a transition to longhole mining methods and development of higher grade portions of the Eagle River Mine. The decrease in broken ore inventory reflects the shift in mining methods. Despite a rough first quarter and the lowest realized gold price in the Company’s history (US$271), the effects of operational changes resulted in progressive improvement throughout the year. We are now running smoothly and profitably.


Fourth quarter production totalled 20,700 ounces of gold produced at a site cash cost of US$177 per ounce generating earnings of $1.1 million and cash flow of $2.5 million.


Capital expenditures were $6.5 million compared to $6.4 million in 2000. These were dominated by construction of the new production shaft. With sinking now completed to a depth of 505 metres, remaining construction of the ore handling system and final commissioning should be completed by the end of the first quarter, 2002. The shaft will reduce operating costs by about $1.5 million annually.


In September, 2001 mining was completed at the Edwards Mine due to depletion of reserves. Production from the Mishi Project is scheduled to replace this source of millfeed in 2002.


The Company’s proven and probable ore reserves declined to 1.0 million tonnes grading 9.8 gAu/tonne from 1.3 million tonnes at 10.2 gAu/tonne at year end 2000 primarily as a result of depletion. This includes probable reserves of 100,000 tonnes at 3.8 gAu/tonne within the currently defined Mishi Pit limits. With completion of the new production shaft, access for deep drilling will be created. River Gold is commencing an ambitious exploration programme with a budget of over $3.0 million for 2002. The establishment of a drift on the 460 metre level will serve as a drilling platform to test the potential of our zones to a depth of 750 metres or 300 metres below the limits of current reserves. Early drilling results to date indicate the No.6 zone weakens below 440 metres and resumes below 500 metres. Also, encouraging results between the No.6 zone and the No.2 zone suggest a new zone may be developing in this area. Drilling will continue throughout the year on these and other targets. Having spent the last 2 years building the shaft we are refocusing on building reserves.


On the financial front, a fully subscribed rights issue netted the Company $5.4 million. This was used to reduce debt and ensure completion of the shaft project. In December, 2001, we issued one million flow-through shares at $2 per share. The prime target for these funds will be to systematically explore a parallel structure located 400 metres south of the mine from a drilling drift being established on the 330 metre level. Surface exploration will focus along the main structure east and west of the Eagle River Mine and will provide an evaluation of known gold occurrences on the Magnacon property.


Looking forward, we are in a strong position. With commissioning of the new shaft, both operating and capital costs will decrease. We will be mining higher grade portions of the mine over the next two years and are experiencing a welcome increase in Canadian dollar gold prices.


We forecast 75,000 ounces of production for 2002 at a lower cost per ounce. Strong production and the effect of recent increases in the gold price and drop in the Canadian/US dollar will show in a strong first quarter of 2002. However, amortization provisions for 2002 will be significantly higher than in previous years. While it’s been a rough ride for the gold mining industry during the last four years of depressed gold prices, we are encouraged by recent signs of optimism in the gold market. In the first quarter of 2002 the average price for gold appears at least Cdn$50 higher than a year ago.

River Gold Mines Ltd. trades on the Toronto Stock Exchange under the symbol "RIV". There are currently 37.4 million shares issued and outstanding.

For further information, please contact:
Murray H. Pollitt, P. Eng., President
River Gold Mines Ltd. at
Telephone [phone] - Fax [phone]