Business
Gammon Gold Announces an Illegal Labour Disruption at its El Cubo Mine
Gammon Gold Announces an Illegal Labour Disruption at its El Cubo Mine
About this update from Auq Gold Mining Inc.
[{"type":"text","content":"\n\n\n\n Jun. 3, 2010 (Canada NewsWire Group) -- TSX: GAM / NYSE: GRS / BSX: GL7\n\n Gammon Gold Inc. ("Gammon") (TSX:GAM and NYSE:GRS): announces an illegal labour disruption launched by unionized mine workers is in progress at its El Cubo mine located in Guanajuato State, Mexico. The unionized workers are barring contract workers and union members from entering the El Cubo mine site. Although no official notice has been provided by the union, the Company understands that the unionized workers took this action due to a dispute over profit sharing substitution arrangements. Operations at the Peregrina mine, which is located within the El Cubo mine complex, have not been impacted.\nA work stoppage of this nature violates both the Collective Agreement as well as Mexican Labour Law. Management is disappointed that proper process has not been followed by the union and an illegal action of this nature has been instigated. Management is actively managing the situation and reviewing all avenues of potential legal recourse.\n\nAbout Gammon Gold\n\nGammon Gold Inc. is a mid-tier gold and silver producer with properties in Mexico. The Company's flagship Ocampo Project in Chihuahua State achieved commercial production in January 2007. Gammon Gold also operates its El Cubo mine in Guanajuato State and has the promising Guadalupe y Calvo development property in Chihuahua State. The Company recently completed option purchase agreements to acquire the Mezquite Project in Zacatecas State, Mexico and the Venus Project located north of the Ocampo mine in Chihuahua State, Mexico. The Company is based in Halifax, Nova Scotia with an Executive Office in Toronto, Ontario.\n\n\n >\n\n\nCautionary Note to US Investors - The United States Securities and Exchange Commission permits US mining companies, in their filings with the SEC, to disclose only those mineral deposits that a company can economically and legally extract or produce. This press release uses certain terms, such as "measured," "indicated," and "inferred" "resources," that the SEC guidelines strictly prohibit US registered companies from including in their filings with the SEC. US Investors are urged to consider closely the disclosure in Gammon Gold's Annual Report on Form 40-F, which may be secured from Gammon Gold, or from the SEC's websi...