San Gold Corp. said its quarterly loss was cut to $4-million or 1 cent a share, compared with a loss of $7.9-million or 3 cents a share in the previous corresponding period. Record gold sale revenue in the second-quarter of 2011 of $28.4-million on the sale of 19,276 ounces was 126 per cent higher than revenue of $12.6-million recognized in the second-quarter of 2010. It said the increase in gold sales revenue in the second-quarter of 2011 is a result of a 61 per cent increase in the number of ounces sold and a 40 per cent increase in the average realized gold price compared to the second quarter of 2010. The company said it remains on track to deliver on its full-year guidance of 80,000 ounces at an average total cash cost of $825 per ounce of gold.

This is how the release is being presented to the market taken from Globe and Mail. Too bad they don't mention that to get to $825 for the full year the cost per ounces is in the low $600 range and that next year at 1800 tons per day it should be in the mid $500 range.