Lake Shore answers the call for Q1 results, where are ours George?
LAKE SHORE GOLD ANNOUNCES FIRST QUARTER 2012 OPERATING RESULTS, COMPANY ON TRACK TO ACHIEVE 2012 PRODUCTION TARGET
Gold production of 16,680 ounces from 160,500 tonnes ore processed during the quarter at a grade of 3.40 grams per tonne, 95.1% recovery rate, exceeds guidance of 15,000 ounces
Gold poured related to Mill production totaled 16,180 ounces, total sales for the quarter were 18,400 ounces at average gold price of US$1,690 per ounce
Cash and gold bullion inventory at March 31, 2012 estimated at $84.6 million, including $78.9 million of cash and $5.7 million of gold bullion inventory
Company maintains guidance of 85,000 - 100,000 ounces of gold poured in 2012
The 50% expansion of the Company’s milling facility, to 3,000 tonnes per day, is progressing on schedule for completion in the fourth quarter
