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Article: Meridian Gold Reports 1997 Fourth Quarter And Full Year Results, All dollar amounts in U.S. currency.
- Article from:
- Business Wire
- Article date:
- February 19, 1998
CopyrightCOPYRIGHT 1998 Business Wire. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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RENO, Nev.--(BUSINESS WIRE)--Feb. 19, 1998--Meridian Gold Inc. (TSE:MNG.)(NYSE:MDG) today is pleased to report 1997 gold production of 203,000 ounces at an average cash cost of $205 per ounce. When compared to 1996, gold production was essentially level, but cash costs improved 14 percent from $239 per ounce. This places Meridian in the lowest quartile of cash costs of gold production in the western world.
In addition, the Company expensed a record $31 million in exploration during the year. This news release will provide an update on some of the more significant results from that spending, including a recent discovery of a new mineralized zone at El Penon. ...