New Dawn Mining: Quarterly Consolidated Gold Sales of US$15.162 Million for the Quarter Ended June 30, 2012, as compared to US$9.792 Million for
New Dawn Mining Corp. (TSE:ND)
Today : Wednesday 25 July 2012
New Dawn Mining Corp. ("New Dawn" or the "Company"), a junior gold company focused on developing and expanding its mining assets and operations in Zimbabwe, reported consolidated gold production for the quarter ended June 30, 2012 of 9,536 ounces (8,702 ounces attributable to New Dawn, after adjusting for the minority interests' share of gold production), as compared to consolidated gold production for the quarter ended June 30, 2011 of 6,841 ounces (6,355 ounces attributable), an increase of 39.4% (36.9% increase on an attributable basis).
As compared to consolidated gold production for the previous quarter ended March 31, 2012 of 8,736 ounces (7,926 ounces attributable), consolidated gold production for the current quarter ended June 30, 2012 increased by 9.2% (9.8% increase on an attributable basis).
Consolidated gold sales for the quarter ended June 30, 2012 totalled US$15,162,843 (US$13,776,012 attributable) at an average sales price per ounce of gold of US$1,608, as compared to US$9,791,973 (US$9,197,031 attributable) for the quarter ended June 30, 2011, an increase of 54.8% (49.8% increase on an attributable basis).
As compared to consolidated gold sales for the previous quarter ended March 31, 2012 of US$14,857,212 (US$13,551,287 attributable), consolidated gold sales for the current quarter ended June 30, 2012 increased by 2.0% (1.7% increase on an attributable basis). This increase in revenue for the quarter ended June 30, 2012 was accomplished despite a decline in the average price per ounce of gold to $1,516 for the quarter ended June 30, 2012 from $1,685 for the quarter ended March 31, 2012.
100% of proceeds from gold sales were received in US dollars.
At June 2012 quarter end, an additional 2,378 ounces of gold awaited export documentation for sale in South Africa, and will be included in July 2012 sales.
The Company will file its unaudited consolidated financial statements and related materials for its fiscal third quarter ended June 30, 2012, and report its consolidated results of operations for such period, on or before the filing deadline of August 14, 2012.
AI
