Business
Gammon Gold Reports First Quarter Financial Results, Including Record Operating Cash Flow and Net Free Cash Flow at Ocampo
May 12, 2011 (Canada NewsWire Group) -- TORONTO, May 12 /CNW/ - Gammon Gold Inc. ("Gamm...
About this update from Auq Gold Mining Inc.
[{"type":"text","content":"\n\n\n May 12, 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, May 12 /CNW/ - Gammon Gold Inc. ("Gammon") (TSX:GAM) (NYSE:GRS):  Gammon is pleased to report financial results from the first quarter\n ended March 31, 2011. All amounts are in U.S. dollars unless otherwise\n indicated.\n\n\nGammon concluded the first quarter on plan, with Ocampo delivering\n record underground production, record profit margins, record operating\n cash flow and record net free cash flow. The Company now operates three wholly owned gold mines and two advanced\n development projects in Mexico that is expected to underpin the\n Company's peer-leading growth targets in 2011 and beyond. \n\n\nThe Company also reiterates its consolidated 2011 production guidance of\n 167,000-189,000 gold ounces, 4.8-5.6 million silver ounces, or\n 255,000-290,000 gold equivalent ounces at cash costs of $455-485 per\n gold equivalent ounce (assuming a 55:1 gold equivalency ratio).\n\n\nCompany-Wide Quarterly and Subsequent Highlights \n\n\n\n\nRevenues of $70.3 million\n\n\nEarnings from operations of $23.6 million, or $0.17 per share\n\n\nNet earnings of $19.3 million, or $0.14 per share, prior to a charge of\n $7.6 million, or $0.05 per share, in restructuring costs for the\n re-start of operations at the El Cubo mine (the "El Cubo Charge")\n\n\nStrong operating cash flow of $41.2 million, or $0.30 per share, before\n the restructuring costs for the re-start of operations at the El Cubo...