highlights9 Aug 2012 08:08
VANE is pleased to announce an operational update on its gold and silver operations in Mexico.
Highlights
· Total revenue of US$2,772,286 generated in Q2 (Q1 2012: US$2,612,564)
· 8,105 tonnes of ore in total processed during Q2 (Q1 2012: 8,113 tonnes) with average grades 5.70g/T Au and 127g/T Ag (Q1 2012: 6.87g/T Au and 156g/T Ag)
· Average recovery rate of 80.6% Au and 77.8% Ag (Q1 2012: 80.3% Au and 77.0% Ag)
· 1,028 oz. Au and 22,147 oz. Ag produced in Q2 (Q1 2012: 1,180 oz. Au and 26,164 oz. Ag) at a direct production cost of $763 per oz. Au equivalent or $13.9 per oz. Ag equivalent (Q1 2012: $582 per oz. Au equivalent or $10.7 per oz. Ag equivalent)
· 63.1 tonnes of concentrate held in inventory at period end (Q1 2012: 70.8 tonnes)
· All gold and silver sold unhedged