Business
Gammon Gold Reports Record Earnings and Operating Cash Flow
Mar. 23, 2011 (Canada NewsWire Group) -- TORONTO, March 23 /CNW/ - Gammon Gold Inc. ("G...
About this update from Auq Gold Mining Inc.
[{"type":"text","content":"\n\n\n Mar. 23, 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, March 23 /CNW/ - Gammon Gold Inc. ("Gammon") (TSX: GAM) (NYSE: GRS): Gammon is pleased to report financial results from the fourth quarter\n and year-ended December 31, 2010. All amounts are in U.S. dollars\n unless otherwise indicated.\n\n\nGammon concluded the fourth quarter with Company-wide record revenues,\n record operating cash flow, record margins, a strong cash balance, new\n discoveries and increased Reserves and Resources at its Ocampo and El\n Cubo projects, with development activities at the El Cubo slated to\n resume next month.\n\n\nCompany-Wide Quarterly and Subsequent Highlights \n\n\n\n\n\n\n\nNet earnings of $23.5 million, or $0.17 per share\n\n\nRecord operating cash flow of $35.6 million, or $0.26 per share\n\n\nNet free cash flow of $7.1 million, or $0.05 per share\n\n\nCash balance of $113.1 million\n\n\nAvailable liquidity of approximately $160.7 million\n\n\nAddition to company-wide year-end Reserves of 18% before mining\n depletion, or 9% post mining depletion\n\n\nAddition to company-wide year-end Measured and Indicated Resources of\n 47%\n\n\nEl Cubo to resume operations under a more productive Collective\n Agreement\n\n\n\nOcampo Quarterly Highlights \n\n\n\n\n\n\n\nRecord earnings before other items of $33.6 million\n\n\nRecord operating cash flow of $41.9 million\n\n\nNet free cash flow of $15.0 million\n\n\nGold equivalent production of 51,199 ounces at cash costs ...