Message: Financials Out!!
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Consolidated Financial and Operating Highlights(b)
Three months ended
September 30, 2007
Nine months ended
September 30, 2007
2007 2006 2007 2006
Gold ounces – produced (c) 3,116 - 8,568 -
Gold ounces – sold (c) 3,251 - 8,053 -
Metal sales (c) $2,318,088 - $5,521,561 -
Cost of sales (a) $621,534 - $1,623,934 -
Accretion, depreciation, depletion
and amortization $266,810 - $682,630 -
Mine operating earnings $1,429,744 - $3,214,997 -
Net (loss) earnings ($200,314) ($113,914) $43,317 ($246,306)
Basic and diluted earnings (loss) per share ($0.01) ($0.00) $0.00 ($0.00)
Cash flow provided by (used in)
operating activities $847,754 $448 $1,779,499 ($28,517)
Average realized gold price per ounce $713 - $686 -
Cost of sales per ounce sold $191 - $202 -
(a) Cost of sales excludes accretion, depreciation, depletion and amortization.
(b) As a result of having to fully consolidate the results from the Company’s 50% owned El Sastre gold mine, the
amounts above represent 100% of the gold ounces produced and sold, metal sales, cost of sales and depreciation,
depletion and amortization.
(c) Does not include sale of 400 ounces at $715 per ounce from the El Castillo mine currently in pre-production
Three months ended
September 30, 2007
Nine months ended
September 30, 2007
2007 2006 2007 2006
Gold ounces – produced (c) 3,116 - 8,568 -
Gold ounces – sold (c) 3,251 - 8,053 -
Metal sales (c) $2,318,088 - $5,521,561 -
Cost of sales (a) $621,534 - $1,623,934 -
Accretion, depreciation, depletion
and amortization $266,810 - $682,630 -
Mine operating earnings $1,429,744 - $3,214,997 -
Net (loss) earnings ($200,314) ($113,914) $43,317 ($246,306)
Basic and diluted earnings (loss) per share ($0.01) ($0.00) $0.00 ($0.00)
Cash flow provided by (used in)
operating activities $847,754 $448 $1,779,499 ($28,517)
Average realized gold price per ounce $713 - $686 -
Cost of sales per ounce sold $191 - $202 -
(a) Cost of sales excludes accretion, depreciation, depletion and amortization.
(b) As a result of having to fully consolidate the results from the Company’s 50% owned El Sastre gold mine, the
amounts above represent 100% of the gold ounces produced and sold, metal sales, cost of sales and depreciation,
depletion and amortization.
(c) Does not include sale of 400 ounces at $715 per ounce from the El Castillo mine currently in pre-production
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