Chilean mining operator Cerro Grande Mining Corporation has reported record financial results for its fiscal year ended September 30, 2011.
Revenues from gold, copper and silver sales came in at US $24,289,000 compared to US $10,959,000 in the same period last year. Net earnings were a positive US $3,425,000 compared to a negative (US $5,248,000) last year.
Gold ounces sold in fiscal year ended September 30, 2011 were 14,083 oz, compared to 8,598 oz last year. Cash costs per ounce of gold ounces sold at the Pimenton mine, net of byproduct credits, was US $716.00 compared to US $992.00 in 2010.
The company also reported that the diamond drill rig being moved to the drill site at Santa Cecilia for assembly and drilling and is expected to start early in January, 2012.
Cerro Grande Mining Corporation is a minerals producing, exploration and development company with properties and activities currently focused in Chile.
