La Mancha Resources Inc. announced that its consolidated gold production for 2009 reached a record 94,570 ounces, compared to 71,550 ounces of gold for 2008, in line with its production guidance. This 32% increase is due to the steady production ramp-up at the Australian Frog’s Leg mine, which more than compensated for lower African production.
HIGHLIGHTS
– Record gold production of 94,570 ounces in 2009
– Gold production target of up to 140,000 ounces for 2010
– Average cash costs expected to be US$539 per ounce of gold
– New Australian White Foil mine set to start operations in March
2010
– Frog’s Leg mine to contribute up to 70,000 ounces of gold net to La Mancha in 2010, 41% more than in 2009
La Mancha is an AGORACOM Client.
Last modified: July 27, 2026
That $539-per-ounce gold production price is a little on the high side, but it’s still justified in this current economic climate. Skittish investors have pushed up the price of gold on the back of inflation fears to near record highs (inflation adjusted). This is a great time for La Mancha to be ramping up production.