Proactive Investor's  Instablog

Proactive Investor
Send Message
Proactiveinvestors is a leading multimedia news organization, investor portal and events management business with offices in New York, Sydney, Toronto and London. Proactiveinvestors operates five financial websites in four languages providing breaking news, comment and analysis on hundreds of... More
My company:
My blog:
  • Minefinders triples sales in second quarter 0 comments
    Jul 12, 2011 4:08 PM | about stocks: MFL

    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.

    Stocks: MFL
Back To Proactive Investor's Instablog HomePage »

Instablogs are blogs which are instantly set up and networked within the Seeking Alpha community. Instablog posts are not selected, edited or screened by Seeking Alpha editors, in contrast to contributors' articles.

Comments (0)
Track new comments
Be the first to comment
Full index of posts »
Latest Followers


More »

Latest Comments

Instablogs are Seeking Alpha's free blogging platform customized for finance, with instant set up and exposure to millions of readers interested in the financial markets. Publish your own instablog in minutes.