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Message: La Mancha Blog Entry August 7th

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La Mancha Blog Entry August 7th

posted on Aug 07, 09 03:55PM

La Mancha Posts Record Quarterly Net Earnings as Gold Production Rises 47%

Highlights from the press release include:

Key Points:

SECOND QUARTER HIGHLIGHTS

- Net earnings of $6.1 million

- Cash flow from operating activities of $6.6 million

- Corporate debt decreases to $12.2 million while cash and short term investments grow to $18.4 million

- Record quarterly gold production of 27,755 ounces at an average cash cost of US $484 per ounce

- Gold production up 47% and cash costs per ounce down 21% year over year

- Company reaffirms its 2009 gold production target of 100,000 ounces

- Michel Cuilhe to step down as CEO and Chairman of the Company

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