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Garson Gold loses $9.99-million in fiscal 2008
2009-04-01 09:51 ET - News Release
Ms. Jada Soomer reports
GENCO REPORTS RESULTS FOR 2008
Genco Resources Ltd. has released results for the financial year ended Dec. 31, 2008.
Financial overview:
- Sales for the year ended 2008 were $6,604,496, an increase of 6 per cent from the year ended 2007;
- Gross loss on operations for the year ended 2008 was $708,115, a decrease from the gross profit on operations of $132,618 for the year ended 2007;
- Investment in exploration, new mine development and equipment totalled $11,102,856 during the year ended Dec. 31, 2008.
SUMMARY FINANCIAL AND OPERATIONAL RESULTS Dec. 31, 2008 Dec. 31, 2007Sales $ 6,604,496 $ 6,212,545Gross profit ($708,115) $ 132,618Net (loss) $ 9,990,220 $ 5,738,367(Loss) per share $ 0.24 $ 0.16Average shares fully diluted 41,320,712 36,415,304Tonnes milled 67,620 59,342eAg ounces sold 458,568 520,054Silver sales (ounces) 316,704 269,109Gold sales (ounces) 2,572 4,839Average realized silver price $16.08 (U.S.) $13.39 (U.S.)Average realized gold price $886.89 (U.S.) $694.39 (U.S.)