Gammon Gold Reports Record Operating Cash Flow and Net Free Cash Flow at Ocampo During the First Quarter and Provides 2011 Guidance

About this update from Alamos Gold Inc.

[{"type":"text","content":"\n\n\n Apr. 11, 2011 (Canada NewsWire Group) -- \n\n#ReleaseContent TABLE\n{\n BORDER-COLLAPSE: collapse\n}\nTR.cnwUnderlinedCell TD\n{\n BORDER-BOTTOM: #000000 1px solid\n}\nTR.cnwDoubleUnderlinedCell TD\n{\n BORDER-BOTTOM: #000000 3px double\n}\nTR.cnwBoldUnderlinedCell TD\n{\n BORDER-BOTTOM: #000000 3px solid\n}\nTD.cnwUnderlinedCell\n{\n BORDER-BOTTOM: #000000 1px solid\n}\nTD.cnwDoubleUnderlinedCell\n{\n BORDER-BOTTOM: #000000 3px double\n}\nTD.cnwBoldUnderlinedCell\n{\n BORDER-BOTTOM: #000000 3px solid\n}\n#ReleaseContent TABLE.cnwBorderedTable TD\n{\n BORDER-RIGHT: black 1px solid;\n PADDING-RIGHT: 2px;\n BORDER-TOP: black 1px solid;\n PADDING-LEFT: 2px;\n PADDING-BOTTOM: 2px;\n BORDER-LEFT: black 1px solid;\n PADDING-TOP: 2px;\n BORDER-BOTTOM: black 1px solid;\n BORDER-COLLAPSE: collapse\n}\n#ReleaseContent TABLE TD\n{\n PADDING-RIGHT: 2px;\n PADDING-LEFT: 2px;\n PADDING-BOTTOM: 2px;\n PADDING-TOP: 2px\n}\n\n\nTORONTO, April 11 /CNW/ - Gammon Gold Inc. ("Gammon") (TSX:GAM) (NYSE:GRS):  Gammon is pleased to report operating results for the first quarter of\n 2011. All amounts are in U.S. dollars unless otherwise indicated.\n\n\nGammon concluded the first quarter on plan, with record underground\n production, record margins, record operating cashflow and record net\n free cash flow. The Company begins the second quarter with El Cubo\n mining and development commencing mid-April and the acquisition of\n Capital Gold complete. The Company now has three 100% owned operating\n mines and two advanced development projects in Mexico that will\n underpin our peer-leading growth targets in 2011 and beyond.\n\n\nFirst Quarter and Subsequent Highlights\n\n\n\nRecord operating cash flow of approximately $50 million at Ocampo\n\n\nRecord net free cash flow of approximately $24 million at Ocampo, the\n third consecutive quarter of positive net free cash flow\n\n\nA cash position of $119 million as of March 31, 2011\n\n\nGold equivalent production of 49,853 gold equivalent ounces at cash\n costs of $383 per gold equivalent ounce, for a record margin of $1,002\n (72%) at the gold equivalency ratio of 43:1 realized during the quarter\n\n\n\n\n\nGold production of 25,882 ounces at cash costs of negative $570 per\n ounce1 for a record margin of $1,955 (141%) per gold ounce1\n\n\nSilver production of 1,035,174 ounces at ca...

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