San Gold Corporation (SGRCF)

[NYBob]

San Gold Corp says 2011 production to jump 84%
The Canadian gold firm says it also expects significant cost
reductions in the coming year as operations get closer
to efficiency
Posted: Monday , 28 Mar 2011
(Reuters) -

Canada's San Gold Corp expects an 84 percent jump in 2011 production
and said it sees "significant cost reductions in the coming year
as operations get closer to efficient levels of production."

The company, which mainly explores gold in the Bissett area of Manitoba
and produces from its underground mine in the Rice Lake area of Manitoba,
forecast 2011 production of 80,000 ounces.
In 2010, it produced 43,498 ounces of gold.

Cash costs in 2011 are budgeted to start the year at about
$1,060 per ounce and end the year approaching $650 per ounce,
the company said.
In 2010, overall cash cost was $1,105 per ounce.

The company reported revenue of $58.0 million in 2010,
compared with $27.8 million in the year ago.

Shares of San Gold were down 3 Canadian cents at C$2.62 on Monday on the Toronto Stock Exchange.
(Reporting by Bhaswati Mukhopadhyay in Bangalore;
Editing by Jarshad Kakkrakandy)

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