VANCOUVER, British Columbia (Business Wire) -- SACRE-COEUR MINERALS, LTD. (the “Company”) announced today that it produced and sold a total of 596.45 tr oz for the twelve week period ended September 30, 2012 for an average of 49.7 tr oz per week for the period. The average price realized was US $1,653.74 per ounce, yielding US $986,373 in gross sales receipts.
Operating availability rose to 66.8%, including time lost due to mechanical interruptions and moves & setups. Daily production per 20hr actual operating day rose to 10.63 tr oz per operating day. Cash Operating Cost for the twelve week period was US $495.12 per tr oz. Royalties and production taxes amounted to an additional US $146.52 per tr oz, providing a cash margin of US $1,012.10 per tr oz produced and sold at the weighted average sales price realized of US $1,653.74 per tr oz, or US $603,667 net cash flow for the period. Fineness of gold produced during the twelve week period remained steady at 960 fine (96% fine gold).
Production output and cost performance has continued to improve through the period, with weekly production for September rising to 68.95 tr oz per week (excluding planned maintenance downtime), and cash operating costs fell to US $356.92 per tr ounce as a result of better grade and increased operating availability.
We are very pleased that our elluvial/alluvial production operation from a single production unit is continuing to improve, and is now producing gold at very competitive costs, and delivering consistent operating results. We look forward to further increasing output in the near future.
The Company is engaged in the acquisition, exploration, development, and production of properties for gold, metals and diamonds in South America, initially focussing on exploration and production of gold from its properties in Guyana. The Company presently holds 100% interest in approximately 850 sq. km of mineral properties in Guyana, including the Million Mountain Property which hosts an NI 43-101 compliant hard-rock resource of 12,119,285 tonnes grading 1.0 g/t Au Measured, and 2,175,278 tonnes grading 0.9 g/t Au Indicated for a total 451,000 tr oz Au combined. The Company has offices in Vancouver, Canada and Georgetown, Guyana. More information about the Company is available at <www.scminerals.com>.
ON BEHALF OF THE BOARD OF DIRECTORS OF
SACRE-COEUR MINERALS, LTD.
“Gregory B. Sparks”
Gregory B. Sparks, P. Eng.
President & CEO
Neither TSX Venture Exchange n