New Dawn increase gold sales

Published: 10 June 2013

New Dawn Mining reported consolidated gold production for the quarter ended December 31, 2012 of 9,069 ounces (8,440 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 December 31, 2011 of 9,095 ounces (8,399 ounces attributable). Consolidated gold production was essentially flat for the quarter ended December 31, 2012, as compared to the quarter ended December 31, 2011.

As compared to consolidated gold production for the previous quarter ended September 30, 2012 of 10,256 ounces (9,370 ounces attributable), consolidated gold production for the current quarter ended December 31, 2012 decreased by 11.6% (9.9% decrease on an attributable basis).

Consolidated gold sales for the quarter ended December 31, 2012 were US$16,612,476 (US$15,332,853 attributable), as compared to US$15,440,766 (US$14,238,642 attributable) for the quarter ended December 31, 2011, an increase of 7.6% (7.7% increase on an attributable basis). The average sales price per ounce of gold was US$1,711 and US$1,684 for the quarters ended December 31, 2012 and 2011, respectively.

As compared to consolidated gold sales for the previous quarter ended September 30, 2012 of US$16,486,612 (US$15,073,167 attributable), consolidated gold sales for the current quarter ended December 31, 2012 increased by 0.8% (1.7% increase on an attributable basis). The average sales price per ounce of gold was US$1,711 and US$1,650 for the quarters ended December 31, 2012 and September 30, 2012, respectively.

100% of proceeds from gold sales were received in US dollars.

At December 31, 2012, an additional 2,029 ounces of gold awaited export documentation for sale in South Africa, and will be included in January 2013 sales.

The Company will file its unaudited consolidated financial statements and related materials for its fiscal first quarter ended December 31, 2012, and report its consolidated results of operations for such period, on or before the filing deadline of February 14, 2013.
- Byo24News