SACRE-COEUR MINERALS ANNOUNCES TWELVE WEEK ELLUVIAL/ALLUVIAL GOLD PRODUCTION FIGURES FOR PERIOD ENDED SEPTEMBER 30, 2012: 596...
October 16 2012 - 9:34AM
Business Wire
SACRE-COEUR MINERALS, LTD. (the “Company”) announced
today that it produced and sold a total of 596.45 tr oz for the
twelve week period ended September 30, 2012 for an average of 49.7
tr oz per week for the period. The average price realized was US
$1,653.74 per ounce, yielding US $986,373 in gross sales
receipts.
Operating availability rose to 66.8%, including time lost due to
mechanical interruptions and moves & setups. Daily production
per 20hr actual operating day rose to 10.63 tr oz per operating
day. Cash Operating Cost for the twelve week period was US $495.12
per tr oz. Royalties and production taxes amounted to an additional
US $146.52 per tr oz, providing a cash margin of US $1,012.10 per
tr oz produced and sold at the weighted average sales price
realized of US $1,653.74 per tr oz, or US $603,667 net cash flow
for the period. Fineness of gold produced during the twelve week
period remained steady at 960 fine (96% fine gold).
Production output and cost performance has continued to improve
through the period, with weekly production for September rising to
68.95 tr oz per week (excluding planned maintenance downtime), and
cash operating costs fell to US $356.92 per tr ounce as a result of
better grade and increased operating availability.
We are very pleased that our elluvial/alluvial production
operation from a single production unit is continuing to improve,
and is now producing gold at very competitive costs, and delivering
consistent operating results. We look forward to further increasing
output in the near future.
About Sacre-Coeur
The Company is engaged in the acquisition, exploration,
development, and production of properties for gold, metals and
diamonds in South America, initially focussing on exploration and
production of gold from its properties in Guyana. The Company
presently holds 100% interest in approximately 850 sq. km of
mineral properties in Guyana, including the Million Mountain
Property which hosts an NI 43-101 compliant hard-rock resource of
12,119,285 tonnes grading 1.0 g/t Au Measured, and 2,175,278 tonnes
grading 0.9 g/t Au Indicated for a total 451,000 tr oz Au combined.
The Company has offices in Vancouver, Canada and Georgetown,
Guyana. More information about the Company is available at .
ON BEHALF OF THE BOARD OF DIRECTORS OFSACRE-COEUR
MINERALS, LTD.
“Gregory B. Sparks”Gregory B.
Sparks, P. Eng.
President & CEO
Neither TSX Venture Exchange nor its Regulation Services
Provider (as that term is defined in policies of the TSX Venture
Exchange) accepts responsibility for the adequacy or accuracy of
this release.
This news release may contain “forward-looking statements”
within the meaning of the United States Private Securities
Litigation Reform Act of 1995 or “forward-looking information”
within the meaning of applicable Canadian securities laws, which we
will refer to as “forward-looking information”. Often, but not
always, forward-looking information can be identified by the use of
words such as “plans”, “expects”, “is expected”, “budget”,
“scheduled”, “estimates”, “forecasts”, “intends”, “anticipates” or
“believes” or the negatives thereof or variations of such words and
phrases or statements that certain actions, events or results
“may”, “could”, “would”, “might” or “will” be taken, occur or be
achieved. Forward-looking information includes, but is not limited
to, statements pertaining to development activities, commissioning
of environmental studies, application for necessary permits for
production operations, metallurgical studies, commissioning of a
third party feasibility study, arrangement of financing for
development, formal production decisions, business
combinations.
We can give no assurance that the forward-looking information
will prove to be accurate. Forward-looking information by its
nature is based on assumptions and involves known and unknown
risks, uncertainties and other factors, including those discussed
in the Company’s quarterly and annual management discussion and
analysis, which are available at www.sedar.com under the Company’s
profile, any of which may cause the actual results, performance or
achievements of the Company to be materially different from any
future results, performance or achievements expressed or implied by
such forward-looking information. The forward-looking information
is based on a number of assumptions that management believes are
reasonable, including but not limited to assumptions about: the
price of gold; the financial condition of the Company; anticipated
costs and expenditures; estimated production; mineral resources or
reserves; and metallurgical recoveries; general business
conditions; and the ability to achieve our goals. The
forward-looking information is also subject to certain risks,
uncertainties and other factors associated with our business,
including but not limited to: gold price volatility; risks of not
meeting production and cost targets; discrepancies between actual
and estimated production; mineral reserves and resources and
metallurgical recoveries; mining operational and development risk;
litigation risks; regulatory restrictions, including environmental
regulatory restrictions and liability; risks of sovereign
investment and operating in foreign countries; currency
fluctuations; speculative nature of gold exploration; global
economic climate; dilution; share price volatility; competition;
loss of key employees; additional funding requirements; and
defective title to mineral claims or property, as well as those
factors discussed in the Company’s quarterly and annual management
discussion and analysis. Should underlying assumptions prove
incorrect, or should one or more of the risks, uncertainties or
other factors materialize, actual results may vary materially from
those expressed or implied in the forward-looking information.
Forward-looking information is designed to help you understand
management’s current views of our near and longer term prospects,
and it may not be appropriate for other purposes. Forward-looking
information is based on the reasonable beliefs, estimates and
opinions of management at the date the statements are made and is
subject to change without notice. These factors should be carefully
considered and viewers are cautioned not to place undue reliance on
forward-looking information, which speaks only as of the date of
this news release. We will not necessarily update this information
unless we are required to by applicable securities laws.
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