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Article: Meridian Gold Reports First Quarter 2002 Results.
- Article from:
- Business Wire
- Article date:
- May 7, 2002
CopyrightCOPYRIGHT 2002 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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Business Editors
RENO, Nev.--(BUSINESS WIRE)--May 7, 2002
Meridian (NYSE:MDG) (TSE:MNG.)
(All dollar amounts in U.S. currency)
Highlights
-- El Penon gold production of 88,000 ounces at a record cash cost of $25 per
ounce
-- Net income of $10.3 million, or $0.14 per share
-- Gold production of 110,588 ounces at a cash cost of $78 per ounce, a 13%
improvement over cash costs in the first quarter last year
-- Operating cash flows of $12.9 million increased available cash balances to
$105.7 million
-- Meridian Gold Inc. and Brancote Holdings plc agree to merge forming the
leading intermediate gold producer
-- New El ...