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Article: Meridian Gold Reports Third Quarter 2002 Results.
- Article from:
- Business Wire
- Article date:
- October 22, 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)--Oct. 22, 2002
Meridian Gold (NYSE:MDG)(TSX:MNG.TO):
Highlights
-- El Penon gold production of 78,000 ounces at a cash cost of $43 per ounce
-- Net income of $9.2 million, or $0.10 per share
-- Unhedged realized gold prices increased 13% to $320 per ounce
-- Strong cash flows financed $20 million in capital development primarily at Esquel
-- New gold discovery confirmed by drilling at Los Pircos in Peru
-- The high-grade Vista Norte zone continues to grow at El Penon
Meridian Gold, Inc. generated net income of $9.2 million, or $0.10 per share for the quarter. Earnings per ...