Possible light at the end of the tunnel. Hope they make it into the end zone for a TD.

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Development of the underground mine at Starvation Canyon commenced in the fourth quarter with 740 feet (226 metres) of development completed to-date.  Development is currently 30 feet (10 metres) away from the ore body and development of a vent raise and a secondary escapeway will commence in February 2013 with completion targeted for the following month.  This will allow for production to start as planned in March 2013 with full ramp up to 600 tons per day in the second quarter of 2013.

The Company has just completed planning for 2013 and gold production from Jerritt Canyon operations is expected to be between 175,000 and 185,000 ounces depending on the timing of commencement of toll milling of third party ores or concentrates and the amount of stockpiled ore the Company processes in the interim.

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The negative

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Production for the quarter was hampered by delays in acquiring parts and equipment, primarily a result of low working capital during the quarter, resolved through the $15m financing announced on December 18 , 2012.

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