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The Small Cap Epicenter
The Small Cap Epicenter
AGORACOM WIRE .... WEEKEND EDITION
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We're proud to announce the launch of GraphiteStocksBlog.com a website dedicated to the needs of investors and companies in the fast growing Graphite industry.
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AGORACOM INTERVIEWS ERIC SPROTT: Eric Discusses UC Resources $1.5M Investment INTO Sprott + Current And Future Silver Path
VOLUME & PRICE ALERT
La Mancha Resources (LMA:TSX-V)
0.65 +0.14 (27.45%), Vol. 1,257,796 **Average Daily 3-Month Volume: 298,565**
Click here to access the La Mancha Resources IR Hub
La Mancha In The News...
HIGHLIGHTS
La Mancha Resources Inc. (TSX:LMA)(hereinafter "La Mancha" or the "Company") produced 18,515 ounces of gold at an average cash cost of US $451 per ounce during the first quarter of 2009 compared to 16,260 ounces of gold at an average cash cost of US $534 per ounce in the same quarter last year. The increase in production is due to the start of production at the Australian Frog's Leg mine and an improved performance at the Ity mine in Africa, which together more than compensated for lower production from the Hassai mine and the gold recovered from the broken ore inventory at the White Foil pit in the first quarter of 2008.
Consolidated cash costs per ounce for the first quarter of 2009 were down 16% from the corresponding quarter of 2008 to US $451 per ounce. This decrease reflects the improved cash costs per ounce at the Ity mine and the commercial production from the Frog's Leg mine, which more than compensated for the slightly higher Hassai mine cash cost per ounce.
La Mancha's first quarter revenues totalled $24.7 million, due mainly to its stronger production and favourable changes in exchange rates. As shown in the following table, the Company's key financial indicators have strongly improved over the past twelve months. This first quarter of 2009 marks a milestone for La Mancha, with the Australian operation starting to contribute to the Company's operating cash flow capacity as the mine turned cash flow positive and profitable in the first quarter of 2009.
To read the release in its entirety, please click here.
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