San Gold (TSX: T.SGR, Stock Forum) late Monday announced its quarterly and full-year financial and operating results for 2012 for its 100% owned Rice Lake Mining Complex in Manitoba, this according to a company news release.
San Gold’s production for 2012 increased 16% to a record 86,506 ounces of gold.
The company reported a total and comprehensive loss of $13.2 million for 2012, compared with a loss of $5.1 million in 2011, due largely to the increased rate of depletion of mineral properties expense.
San Gold’s revenue for the year rose 25% to $142.1 million.
Total cash costs for 2012 increased to $855 per ounce from $848 a year ago.