SINO GOLD JUNE 2009 QUARTERLY REPORT - RECORD QUARTER
Sino Gold Mining Limited (ASX:SGX, SEHK: 1862) today released its June 2009 Quarter results and highlights included:
- Record 53,367 ounces of gold production (up 51% on June 2008 Quarter production of 35,412 ounces) at a cash operating cost of US$391/ounce
- Ramp-up of Sino Gold�s second mine, White Mountain, continued to be ahead of schedule. During only the second quarter of commercial gold production, the mine produced 11,914 ounces at a cash operating cost of US$430/ounce.
- Sino Gold�s third mine, Eastern Dragon, is on-track for construction to commence in the September 2009 Quarter once the Project Permit is received.
- Cash of US$99 million available at end of quarter.
- Sino Gold is now included in S&P ASX 100 Index.
Commenting on the result Sino Gold�s Chief Executive Officer Jake Klein said:
�This is an excellent result as we continue our progress towards being a very profitable, growth-oriented gold company.
�Our team has done a fantastic job ramping up gold production at our new long-life White Mountain Gold Mine. By June cash operating costs had fallen below US$400 per ounce � this being only the second quarter since commercial production was declared and only a little over four years since the deposit was discovered.
�Group gold production is 51% higher than one year ago and we have now had six consecutive quarters of production growth. Costs are decreasing and we are well funded to develop our outstanding quality third mine, Eastern Dragon, which will further reduce our cash operating costs.�
For the full Quarterly Report and associated presentation, please see our website at www.sinogold.com.au
For further information regarding Sino Gold please contact:
Investor Enquiries:
Jake Klein, CEO or Roger Howe, Investor Relations
+61 2 8259 7000, info@sinogold.com.au
Media Enquiries:
Kate Kerrison
+61 2 6746 3221, kate@katekerrison.com.au
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Level 22, 44 Bridge St
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Sydney NSW 2000
Australia | |
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Sino Gold Mining Limited
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CODE : SGX.AX |
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ISIN : AU000000SGX4 |
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Sino Gold is a gold producing company based in Australia. Sino Gold is listed in Australia, in Germany and in Hong Kong. Its market capitalisation is AU$ 2.4 billions as of today (US$ 2.2 billions, € 1.5 billions). Its stock quote reached its lowest recent point on December 06, 2002 at AU$ 1.05, and its highest recent level on March 20, 2008 at AU$ 8.81. Sino Gold has 292 600 453 shares outstanding. |