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Gammon Gold Revises Cost Guidance Downward and Confirms Production Guidance at Ocampo, Reports Preliminary Production and Cash Costs for July and August and will Present at the Denver Gold Forum on September 21, 2010
Gammon Gold Revises Cost Guidance Downward and Confirms Production Guidance at Ocampo, Reports Pr...
About this update from Auq Gold Mining Inc.
[{"type":"text","content":"\n\n\n\n Sep. 16, 2010 (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\nTSX: GAM / NYSE: GRS / BSX: GL7\n\nTORONTO, Sept. 16 /CNW/ - Gammon Gold Inc. ("Gammon") (TSX:GAM and NYSE:GRS): Gammon is pleased to report that, as a result of strong operational performance at the Ocampo mine, the Company is reducing its cost guidance for 2010. Total Ocampo cash costs for 2010 are now expected to be between $410 and $435 per gold equivalent ounce(1) (down from previous guidance of $425 to $450). All dollar amounts reported are in U.S. dollars unless otherwise indicated.\nGammon is also pleased to confirm its 2010 production guidance. The Company expects the Ocampo mine to produce between 100,000 and 110,000 ounces of gold and 4.40 and 4.95 million ounces of silver, or 180,000 to 200,000 gold equivalent ounces(1). Prior to the suspension of operations in early June, production from El Cubo in 2010 was 20,596 gold equivalent ounces(1) at total cash costs of $755 per gold equivalent ounce(1).\nIn addition, the Company provides preliminary production results from the Ocampo mine for July and August, 2010.\n"Ocampo continues to perform well with most key perfomants metrics nearing or exceeding targeted levels in July and August, despite an unusually difficult rainy season. Particularly encouraging is the performance of the underground mine where in July and August we averaged more than 1,600 tonnes per day, exceeding our targeted level of 1,500 tonnes per day. Underground development a...