La mancha (lma:ca)
$1.80
0.20 (+2.70%)
qté 24700
last update: 9:51 AM EDT Mar 22, 2010
Business details
La Mancha operates four gold mines and is actively advancing a VMS project in Sudan. Our production is strategically distributed between Africa and Australia.
In 2010, we put our fourth mine, White Foil, into commercial production in 2010, and generated a total of 122,570 ounces of gold. Gold production was up 30% year-over-year and 125% from four years ago, when La Mancha was first created through a merger with the gold assets of AREVA. We also reported net earnings of $23.7 million and cash flow of $59.4 million from operating activities in 2010, virtually double the previous year's results.
Our next project and the driver for our mid-term growth is our VMS project at our Hassaï property, where we have successfully operated an open pit gold operation for many years. We produced a strongly positive definitive feasibility study for the VMS project in the first quarter of 2011, and are now preparing to build a CIL plant at the property to transition from the gold operation to mining the gold-copper VMS ore.
In 2011, we expect to generate up to 135,000 ounces of gold. In the mid-term, we are aiming to become an intermediate producer, at 200,000 ounces of gold per year by 2013 and 350,000 ounces by 2015.
How do we compare?
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Source : Bank of America Merril Linch report dated October 9th, 2011. Companies priced as of October 7th, 2011
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Source : Bank of America Merril Linch report dated October 9th, 2011. Companies priced as of October 7th, 2011
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Source : Bank of America Merril Linch report dated October 9th, 2011. Companies priced as of October 7th, 2011
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Source : Bank of America Merril Linch report dated October 9th, 2011. Companies priced as of October 7th, 2011