Congratulations to AGORACOM Client, La Mancha Resources, who put out this press release on Friday:
La Mancha Posts Record Quarterly Net Earnings as Gold Production Rises 47%
Assume I am horribly conflicted as La Mancha is a client, so have a look at the numbers below and tell me if you aren’t impressed by them.
Key Points:
SECOND QUARTER HIGHLIGHTS
– Net earnings of $6.1 million
– Cash flow from operating activities of $6.6 million
– Corporate debt decreases to $12.2 million while cash and short term investments grow to $18.4 million
– Record quarterly gold production of 27,755 ounces at an average cash cost of US $484 per ounce
– Gold production up 47% and cash costs per ounce down 21% year over year
– Company reaffirms its 2009 gold production target of 100,000 ounces
– Michel Cuilhe to step down as CEO and Chairman of the Company
La Mancha Profile
Congratulations to everyone at La Mancha!
Regards,
George
Last modified: July 13, 2026
great numbers from an emerging gold producer. La Mancha is one of a very few handful of companies that will benefit from an increasing production schedule in the midst of a bullrun in the price of gold; all while managing and reducing its cash cost per ounce.
On track to profit $20 Million in 09 for the first year of full scale production, and that is based on a gold price of $900+. When gold eclipses $1000…….
Money talks and everything else walks. What I like about this is that its debt is decreasing and its cash position is increasing. On top of that, it’s cash position covers its debt by 50%. A very liquid company that is worthy of a 2nd look.
Irish