Crocodile Gold (CRK.TSX) announced fourth quarter 2012 production results, which included 62,147 ounces. This level represented a 35% increase over the third quarter of 2012. For the full 2012 year, the gold mining company produced 155,523 ounces.
Highlights:
* Crocodile Gold attributed the significant increase in gold production to 28% more throughput and a 2% increase in the average gold grade
* The Fosterville Gold Mine mined an average of 70,800 tonnes a month, resulting in gold production of 26,650 ounces for the fourth quarter
* The Stawell Gold Mine mined an average of 70,000 tonnes a month, producing a total of 22,669 ounces for the quarter
* In the Northern Territory, the Exploration team worked on a review of various properties and has prepared drill programs for 2013; revised resource and reserve calculations for a number of deposits have been initiated with a plan to produce updated estimates by the end of Q1 2013
Chantal Lavoie, President and CEO of Crocodile Gold:
“Our operations delivered a strong fourth quarter, with continuous improvement over the previous quarters, in line with our guidance of 143,000 to 158,000 ounces of gold production for 2012. Looking ahead to 2013, the Company will continue to focus on delivering profitable gold production while continuing to rationalize non-core assets.”
Company Management:
“Excellent progress was made on key projects, which will position us well for continued profitable production growth in 2013.”
