Minefinders (TSE:MFL)(AMEX:MFN) said Monday that it has more than tripled its gold sales during the second quarter, as the company produced significantly higher amounts of gold and silver.
For the three months ending June 30, the Vancouver-based company produced 19,571 ounces of gold and 1.0 million ounces of silver, compared to 13,783 ounces and 277,147 ounces, respectively, a year earlier.
As a result, Minefinders sold more ounces of the precious metals, generating $73.1 million in sales, versus $21.6 million in the second quarter of 2010. The gold producer sold nearly 49,000 ounces of gold equivalent, up from 18,256 ounces a year ago.
Full financial and operating results for the quarter are scheduled for release after market close on Wednesday August 3rd, the company said.
Minefinders is a precious metals mining and exploration company, operating the multi-million ounce Dolores gold and silver mine in Mexico, which has
enough reserves to sustain open pit production at the site for the next 16 years, at current throughput rates.
Last month, the company also announced it intersected 6.46 grams per tonne (g/t) of gold equivalent over 67 metres at its La Virginia mine near Hermosillo in Sonora State, Mexico. The 34,000 hectare La Virginia project is located 100 kilometres north-northwest of the company's Dolores Mine.