Capital Gold Corporation Reports First Quarter Revenue Up 62%

gold production and development

We expect to produce approximately 65,000 to 70,000 ounces of gold in fiscal year 2011. Sonora, Mexico

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Capital Gold Corporation Reports First Quarter Revenue Up 62%

posted on Dec 13, 2010 08:20AM

prnews

NEW YORK, Dec. 13, 2010 /PRNewswire-FirstCall/ -- Capital Gold Corporation (NYSE AMEX: CGC; TSX: CGC) today reported a 62% increase in revenue and a 26% increase in gold ounces sold for the first fiscal quarter ended October 31, 2010, compared to the first fiscal quarter of last year, as a result of higher gold prices and more ounces sold. The Company recorded gold sales of 14,837 ounces at an average realized price of $1,277 per ounce for the first fiscal quarter versus 11,733 ounces sold for the fiscal quarter in the prior period at an average price of $999. Net income for the three months ended October 31, 2010 and 2009 was approximately $2,954 and $2,939, respectively, representing an increase of approximately 1% over the prior period.

For complete News Release see PRESS RELEASES ON LEFT HAND MARGIN.

.......RL

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