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La Mancha Q1 Profits Surge as Australian Mine Turns Cash Flow Positive

Posted by AGORACOM - Mitch at 10:22 AM on Friday, May 8th, 2009

I’m very proud to announce the following Q1 2009 financial results from AGORACOM client, La Mancha whose profits surged as their Australian Mine turned cash flow positive.

Highlights from the press release include:

Key Points:

  • Cash flow from operating activities of $11.0 million
  • Revenues of $24.7 million
  • Net earnings of $3.5 million
  • Cash and short term investments of $20.1 million
  • 18,515 ounces of gold produced at an average cash cost of US $451 per ounce
  • Trading at 1.5x cash flow multiple, there considered to be significantly undervalued

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