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Article: Meridian Gold Reports First Quarter 1999 Results - All Dollar Amounts in U.S. Currency.
- Article from:
- Business Wire
- Article date:
- April 21, 1999
CopyrightCOPYRIGHT 1999 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)--April 21, 1999--
Meridian Gold Inc. (TSE:MNG.) (NYSE:MDG) is pleased to report first quarter 1999 gold production of 49,147 ounces at an average cash cost of $200 per ounce.
The Company expects to achieve its 1999 full-year production target of 250,000 ounces of gold at a cash operating cost of $200 per ounce, as the El Penon mine is scheduled to start up in the fourth quarter of the year.
The Company recorded a loss of $3.1 million or $0.04 per share in the first quarter of 1999, compared with a loss of $5.1 million or $0.07 per share in the first quarter of last year. Sales for the first quarter were $12.2 million ...