RE: RE: RE: Instead of bickering and comparing pro Tony - I have to disagree & think TGZ is doing fairly well
• Record annual profit of $79.9 million ($0.33 per share) in 2012 up from a loss of $16.0 million ($0.07 loss per
share) in 2011. Record fourth quarter profit of $48.8 million ($0.20 per share) or 106 percent higher than the same
prior year period.
• Gold production for 2012 was within original guidance of 210,000 – 225,000 ounces at 214,310 ounces, a
Company record and 63 percent higher than for the same 2011 period. Gold production for the three months
ended December 31, 2012 was 71,804 ounces, 96 percent higher than the same prior year period.
• Total cash costs for 2012 were within guidance, of $600 - $650 per ounce, at $627(1) per ounce sold compared to
$782 per ounce for the twelve months ended December 31, 2011, a reduction of 20 percent. Fourth quarter total
cash costs were $623 per ounce sold, compared to $809 per ounce in the same prior year period, a reduction of
23 percent.
• Gold hedge book reduced to 59,789 ounces at year end and further reduced to 38,105 ounces as at January 29,
2013. Management expects the hedge book to be extinguished by June 2013.
• The Company’s cash, cash equivalents and bullion receivables at December 31, 2012 increased to $45.0 million,
including $5.3 million in bullion receivables.
• Gold production for 2013 is expected to be in the range of 190,000 – 210,000 ounces at total cash costs of $650
to $700 per ounce.
• Gora technical study confirmed reserves of 285,000 ounces to be mined over 4-years at total cash costs of $675
to $700 ounce.
• Measured & Indicated resources increased 34 percent to 2.9 million ounces, while reserves remain similar to
2011 net of production.
Not to mention their exploration has improved with an extensive drilling program, and their Gora Deposit is exhibiting excellent grade at 2.9g/t - 4.9g/t
See: https://www.terangagold.com/files/FULL%20YE%202012%20rpt.pdf
If OLE isn't careful, they will lose prominence in the area.
h1