Battle Mountain Gold Co. posts second-quarter and first-half profit; new Bolivian gold reserves announced.HOUSTON--(BUSINESS WIRE)--Aug. 8, 1995--Battle Mountain Gold Co. (NYSE NYSE See: New York Stock Exchange :BMG BMG Bundesministerium für Gesundheit (Germand: Federal Ministry for Health) BMG Be My Girl BMG Blue Man Group BMG Bertelsmann Music Group BMG Be My Guest BMG Browning Machine Gun BMG Bulk Metallic Glass ) Tuesday Tuesday: see week. reported second quarter 1995 consolidated net income of $6.3 million, which, after consideration for quarterly dividends to preferred shareholders, resulted in income of $4.4 million, or 5 cents per share Cents per share The amount of a mutual fund's dividend or capital gains distributions that a shareholder will receive for each share owned. , attributable to common shareholders. The second quarter 1995 income compares with net income of $3.1 million in the same period last year, which, after consideration for quarterly dividends to preferred shareholders, resulted in income of $1.2 million, or 1 cent per share, attributable to common shareholders. For the first half of 1995, consolidated net income was $8.8 million, which after consideration for quarterly dividends to preferred shareholders, resulted in income of $5 million, or 6 cents per share. This compares with consolidated net income of $5.9 million, which, after consideration for quarterly dividends to preferred shareholders, resulted in income of $2.2 million, or 3 cents per share, during the same period in 1994. Second-quarter gross revenue for 1995 was $86.4 million, compared with $60.2 million in 1994. Gross revenue for the first six months of 1995 was $142.5 million, compared with $113 million in the first half of 1994. BMG Chairman Karl Karl. For German and Swedish kings thus named, use Charles. E. Elers said that the second quarter and first half of 1995 were favorably fa·vor·a·ble adj. 1. Advantageous; helpful: favorable winds. 2. Encouraging; propitious: a favorable diagnosis. 3. impacted by lower income tax expense, and higher gold, silver and copper production and sales, partially offset by higher average aggregate operating costs operating costs npl → gastos mpl operacionales . The second quarter and first half of 1995 were also impacted by a gain on the sale of BMG's remaining interest in the Plutonic plu·ton·ic adj. Of deep igneous or magmatic origin: plutonic rocks. [From Latin Pl Bore exploration property in Western Australia Western Australia, state (1991 pop. 1,409,965), 975,920 sq mi (2,527,633 sq km), Australia, comprising the entire western part of the continent. It is bounded on the N, W, and S by the Indian Ocean. Perth is the capital. to Resolute res·o·lute adj. Firm or determined; unwavering. [Middle English, dissolved, dissolute, from Latin resol Resources for approximately $4.2 million and a partially offsetting $2.2 million write-off Write-Off A reduction in the value of an asset or earnings by the amount of an expense or loss. Companies are able to write off certain expenses that are required to run the business, or have been incurred in the operation of the business and detract from retained revenues. of the unsalvageable portions of the old Fortitude Fortitude See also Bravery. Fratricide (See MURDER.) Asia despite torture, refuses to deny Moses. [Islam: Walsh Classical, 35] Calantha fulfills wifely and queenly duties despite losses. [Br. Lit. mill at the Battle Mountain Complex in Nevada Nevada (nəvăd`ə, –vä–), far western state of the United States. It is bordered by Utah (E), Arizona (SE), California (SW, W), and Oregon and Idaho (N). . Attributable gold production for the second quarter was approximately 147,000 ounces, compared with 114,000 ounces in the same period a year earlier. For the first half of 1995, gold production remains generally on target totaling 280,000 attributable ounces, compared with 231,000 ounces during the first half of 1994. Cash production costs were largely on budget, averaging $199 per ounce ounce, in zoology ounce, in zoology: see leopard. ounce, unit of measurement ounce: see English units of measurement. for the second quarter of 1995 and $201 per ounce for the first half, compared with $192 and $195 per ounce, respectively, in the same periods in 1994. Elers also noted that the company is making good progress toward achievement of its goals for 1995 to: -- Increase attributable gold production approximately 17 percent, compared with 1994, to approximately 570,000 ounces. -- Significantly advance the permitting process at the Crown Jewel Crown jewel A particularly profitable or otherwise particularly valuable corporate unit or asset of a firm. Often used in risk arbitrage. The most desirable entities within a diversified corporation as measured by asset value, earning power, and business prospects; in takeover and Phoenix projects in Washington Washington, town, England Washington, town (1991 pop. 48,856), Sunderland metropolitan district, NE England. Washington was designated one of the new towns in 1964 to alleviate overpopulation in the Tyneside-Wearside area. state and Nevada, and support the development of the Lihir project in Papua New Guinea Papua New Guinea (păp`  ə, –y .-- Complete drilling and other evaluations necessary to bring known oxide oxide, chemical compound containing oxygen and one other chemical element. Oxides are widely and abundantly distributed in nature. Water is the oxide of hydrogen. Silicon dioxide is the major component of sand and quartz. gold mineralization Mineralization The process by which the body uses minerals to build bone structure. Mentioned in: Rickets mineralization, n the bioprecipitation of an inorganic substance. near Kori Kollo into reserve status, together with additional known gold mineralization at Phoenix. -- Aggressively advance the exploration process on the 37,000 square kilometers of prospective land held under concession by BMG worldwide. New Oxide Reserves in Bolivia Bolivia (bōlĭv`ēə, Span. bōlē`vyä), officially Republic of Bolivia, republic (2005 est. pop. 8,858,000), 424,162 sq mi (1,098,581 sq km), W South America. Exploration work near the Kori Kollo mine in Bolivia, in which BMG holds an 88 percent interest, is ongoing and has revealed significant gold mineralization at Llallagua, a few kilometers from the mine, as reported earlier. BMG is currently carrying out development drilling on the near surface oxide mineralization. The objective of this close-pattern drilling program is to classify clas·si·fy tr.v. clas·si·fied, clas·si·fy·ing, clas·si·fies 1. To arrange or organize according to class or category. 2. To designate (a document, for example) as confidential, secret, or top secret. as reserves as much oxide mineralization as possible by the end of this year. Reserve estimations for the oxide mineralization in the Llallagua/Nueva Esperanza Esperanza (Spanish for "love") may refer to:
Additional drilling is under way in adjacent areas which could significantly increase the size of the oxide reserve by year-end year-end also year·end n. The end of a year. adj. Occurring or done at the end of the year: a year-end audit. Noun 1. . A systematic review of the sulfide sulfide, chemical compound containing sulfur and one other element or sulfur and a radical. Sulfides may be salts or esters of hydrogen sulfide, H2S, or may be formed directly, e.g., by heating a metal with sulfur. mineralization at Llallagua is also under way and should be complete by year end 1996. This is a much larger amount of mineralization; however, the material is refractory refractory Material that is not deformed or damaged by high temperatures, used to make crucibles, incinerators, insulation, and furnaces, particularly metallurgical furnaces. in nature, and metallurgical met·al·lur·gy n. 1. The science that deals with procedures used in extracting metals from their ores, purifying and alloying metals, and creating useful objects from metals. 2. solutions are required. BMG holds about 300 square kilometers surrounding sur·round tr.v. sur·round·ed, sur·round·ing, sur·rounds 1. To extend on all sides of simultaneously; encircle. 2. To enclose or confine on all sides so as to bar escape or outside communication. n. the mine site, and will test additional promising targets in the future. Operations On Target At the Battle Mountain Complex, permitting and preliminary engineering is moving ahead on the 150,000-ounce-per-year Phoenix milling project, with start-up Start-up The earliest stage of a new business venture. targeted for 1997, assuming a reasonable permitting process. Reona operations are improving and nearing target production rates. Cash production and total operating costs have been higher than target but improved significantly in the second quarter with cash costs at $292 per ounce compared with $334 in the first quarter of 1995. The San Luis San Luis, city (1991 pop. 110,353), capital of San Luis prov., W central Argentina. The city is the commercial center of an area producing cattle, corn, and asparagus; the surrounding area has timber and mineral resources. San Luis is a popular resort. mine in Colorado Colorado, state, United States Colorado (kŏlərăd`ə, –răd`ō, –rä`dō), state, W central United States, one of the Rocky Mt. states. is continuing to run smoothly and profitably, having reduced cash operating costs from $250 per ounce in the first quarter of this year to $210 per ounce in the most recent period. At Pajingo in Australia Australia (ôstrāl`yə), smallest continent, between the Indian and Pacific oceans. With the island state of Tasmania to the south, the continent makes up the Commonwealth of Australia, a federal parliamentary state (2005 est. pop. , the original Pajingo ore body and stockpiles have been depleted de·plete tr.v. de·plet·ed, de·plet·ing, de·pletes To decrease the fullness of; use up or empty out. [Latin d , and mining is now underground from the nearby Cindy Cindy can mean:
Cash and total operating costs at Cindy are expected to be less than originally targeted for 1995. The Kori Kollo mine in Bolivia continues to perform well. Production there attributable to BMG was slightly above target at 73,000 ounces in the second quarter. The new recovery enhancement system is in the initial start-up phase and is expected to be in full operation by late September September: see month. . This system is expected to improve recovery rates from the present 69 percent to as much as 78 percent. Total 1995 gold production at Kori Kollo is expected to be approximately 330,000 ounces, with BMG's attributable share about 290,000 ounces. Cash production costs at Kori Kollo averaged $165 per ounce during the first half of this year; however, BMG's mid-year update still calls for cash costs there to increase to about $181 for the full year, as processing shifts exclusively to the more refractory sulfide ore. Total operating costs are expected to average about $268 per ounce in 1995. Niugini Minings Red Dome dome, a roof circular or (rarely) elliptical in plan and usually hemispherical in form, placed over a circular, square, oblong, or polygonal space. Domes have been built with a wide variety of outlines and of various materials. property in Queensland Queensland, state (1991 pop. 2,477,152), 667,000 sq mi (1,727,200 sq km), NE Australia. Brisbane is the capital; other important cities are Gold Coast, Toowoomba, Townsville, Rockhampton, Cairns, and Ipswich. , Australia, in which BMG holds a 50.5 percent interest continues to perform well, and feasibility work is continuing on the nearby Mungana gold and base metal mineralization. This mineralization appears to have good potential for a limited open cut operation and a more substantial underground operation, which could add five or more years to the life of the property. Niugini Minings San Cristobal San Cris·tó·bal A city of extreme western Venezuela in a mountainous region near the Colombian border south-southwest of Maracaibo. Founded in 1561, it was severely damaged by an earthquake in 1875. Population: 298,000. heap leach leach v. leached, leach·ing, leach·es v.tr. 1. To remove soluble or other constituents from by the action of a percolating liquid. 2. mine, in the Atacama desert Atacama Desert (ätäkä`mä), arid region, c.600 mi (970 km) long, N Chile, extending south from the border of Peru. The desert itself, c. of Chile, is operating near design with total gold production targeted at about 85,000 ounces in 1995. Costs remain slightly lower than anticipated. NML (language) nML - A specification language for instruction sets, based on attribute grammars, for back-end generators. ["The nML Machine Description Formalism", M. Freericks <mfx@cs.tu-berlin.de> TR TU Berlin, FB20, Bericht 1991/15]. is also evaluating two nearby areas of mineralization to determine their minability. Draft EIS (1) (Executive Information System) An information system that consolidates and summarizes ongoing transactions within the organization. It provides top management with all the information it requires at all times from internal and external sources. Issued for Crown Jewel The Crown Jewel project in Washington state continues to advance through the permitting process. The Draft Environmental Impact Statement was issued at the end of June June: see month. , and a 60-day public comment period is now under way. Following this period, approximately nine months to one year of work by the various agencies involved will be required before the final EIS is issued. The project also received its so-called first-half certificate from the Bureau of Land Management during the second quarter regarding its patent applications. Assuming the above permitting schedule and no legal appeals, the company anticipates a 1997 start-up of the 180,000-ounce-per-year project, in which it will earn a 54 percent interest. The Lihir property, in Papua New Guinea, is currently scheduled to be in operation in early 1998. BMG's subsidiary, Niugini Mining, currently owns a 30 percent interest in the project following payment of $48 million to RTZ RTZ Rio Tinto Zinc RTZ Return To Zero RTZ Return to Zork (game) RTZ Retail Trade Zone Corp. plc as consideration for an added 16- percent stake in the venture. In order to help meet the funding obligations associated with the 30-percent ownership in Lihir, NML is raising approximately $46 million (Australian Australian pertaining to or originating in Australia. Australian bat lyssavirus disease see Australian bat lyssavirus disease. Australian cattle dog a medium-sized, compact working dog used for control of cattle. ) through a previously announced, bonus option issuance to its shareholders. The prospectus for these options was filed in mid-June with the Australian Stock Exchange Australian Stock Exchange (ASX) Australia's major securities market, formed when the six state stock exchanges (Adelaide, Brisbane, Hobart, Melbourne, Perth, and Sydney stock exchanges) were merged in 1987. . These options were issued on the basis of one free option for every four NML shares held, and are exercisable for a period of eight months. Battle Mountain Gold has agreed to subunderwrite the exercise of all of the options issued to BMG by NML, thus allowing BMG to maintain its 50.5 percent interest in Niugini Mining. NML has raised $30 million (U.S.) by way of a short-term Short-term Any investments with a maturity of one year or less. short-term 1. Of or relating to a gain or loss on the value of an asset that has been held less than a specified period of time. bridging loan which will be repaid by the bonus option exercises, which is fully underwritten. The ownership interest in the Lihir project will be transferred into a new entity called Lihir Gold Limited (LGL LGL Legal (paper) LGL Large Granular Lymphocyte LGL Lown-Ganong-Levine Syndrome LGL Bayerischen Landesamtes für Gesundheit und Lebensmittelsicherheit LGL Luxair, Luxembourg (ICAO code) ) in return for 30 percent of LGL's shares. LGL will then own, fund, develop and operate the project through contract with RTZ. Funding of the project will be raised by an equity float and by project debt from a syndicate Syndicate organized crime unit throughout major cities of the United States. [Am. Hist.: NCE, 2018] See : Gangsterism of banks. Facilities for political risk insurance and hedging are in progress. The closing date for the debt financing Debt Financing When a firm raises money for working capital or capital expenditures by selling bonds, bills, or notes to individual and/or institutional investors. In return for lending the money, the individuals or institutions become creditors and receive a promise to repay is targeted for August, but this funding will not be utilized until the equity float is consummated con·sum·mate tr.v. con·sum·mat·ed, con·sum·mat·ing, con·sum·mates 1. a. To bring to completion or fruition; conclude: consummate a business transaction. b. . Approximately $400 million - $450 million is then expected to be raised through an initial public offering of Lihir Gold Limited shares, now expected to take place in the fourth quarter of this year. Lihir initially will be about a 600,000 ounce per year gold producer, with start-up targeted in late 1997 or early 1998. BMG's attributable interest in the project is expected to be about 60,000 to 70,000 ounces per year. The Lihir group Lihir Group is an island group in Papua New Guinea, located north of New Ireland, at . It is a part of Bismarck Archipelago. has agreed to evaluate an expansion of the project three years after production begins. -0- Corporate Address and Telephone: Battle Mountain Gold Co. Forty Second Floor, 333 Clay St. Houston, Texas “Houston” redirects here. For other uses, see Houston (disambiguation). Houston (pronounced /'hjuːstən/) is the largest city in the state of Texas and the 77002 Phone: 713/650-6400 Fax: 713/650-3636 Investor Relations Investor relations The process by which the corporation communicates with its investors. : Questions concerning BMG's operating and financial performance should be directed to Investor Relations: 713/653-7248. Transfer Agent: Questions and communications regarding dividends or stock transfer services should be directed to: 800/524-4458 Shareholder Services Department 101 Barclay Street, 11E New York New York, state, United States New York, Middle Atlantic state of the United States. It is bordered by Vermont, Massachusetts, Connecticut, and the Atlantic Ocean (E), New Jersey and Pennsylvania (S), Lakes Erie and Ontario and the Canadian province of , N.Y. 10286-1258 -0-
BATTLE MOUNTAIN GOLD CO.
Consolidated Statement of Income (unaudited)
(in thousands, except per-share amounts)
Three months ended Six months ended
June 30, June 30,
1995 1994(b) 1995 1994(b)
Gross revenue(a) $ 86,373 $ 60,180 $142,493 $112,958 Freight, allowances & royalties 5,110 3,144 7,148 5,005 Net sales 81,263 57,036 135,345 107,953 Costs and expenses: Mining costs 11,488 10,711 20,454 17,647 Milling and other plant costs 33,456 21,271 56,303 40,228 Depreciation, depletion and amortization 20,556 12,368 32,914 24,071 Exploration, evaluation & other lease costs 4,211 3,256 7,433 5,907 Write-off of property, plant & equip. 2,222 -- 2,222 -- General and administrative 3,465 2,938 6,173 5,830 Taxes, other than income 734 464 1,296 1,060 Total 76,132 51,008 126,795 94,743 Operating income 5,131 6,028 8,550 13,210 Interest income 786 1,039 1,733 2,015 Interest expense (1,533) (1,868) (3,244) (3,726) Other income (expense), net 5,065 (763) 5,715 (694) Income before income taxes and minority interest 9,449 4,436 12,754 10,805 Income tax expense (691) (224) (952) (2,253) Minority interest (2,463) (1,128) (3,026) (2,620) Net income $ 6,295 $ 3,084 $ 8,776 $ 5,932 Preferred dividends 1,869 1,869 3,738 3,738 Net income to common $ 4,426 $ 1,215 $ 5,038 $ 2,194 Income per share $ 0.05 $ 0.01 $ 0.06 $ 0.03 Declared common dividends per share -- -- $ 0.025 $ 0.025 Average shares outstanding for income per share purposes 86,322 86,008 86,310 85,865
(a) Net sales and costs and expenses reflect 100 percent of net
sales and costs and expenses of BMG and its consolidated
subsidiaries, while average aggregate cost data, per
accompanying schedule, reflect only BMG's net interest.
(b) Restated to reflect reallocation of general and administrative
expenses.
-0-
BATTLE MOUNTAIN GOLD CO.
Condensed Consolidated Balance Sheet (unaudited)
(expressed in thousands)
June 30, 1995 Dec. 31, 1994
Assets:
Current assets:
Cash and temporary cash
equivalents $ 34,881 $ 76,464
Accounts receivable 35,913 22,810
Inventories - product 6,676 5,048
Materials & supplies,
at average cost 27,967 27,730
Other current assets 11,011 7,014
Total current assets 116,448 139,066
Investments 46,635 43,405
Net property, plant
& equipment 535,653 491,401
Other assets 6,071 5,897
Total assets $704,807 $679,769
Liabilities & shareholders' equity: Current liabilities: Short-term borrowings $ 31,883 -- Current maturities of long-term debt 13,430 13,427 Accounts payable 16,549 14,527 Payroll and related benefits accrued 4,655 4,226 Accrued interest 4,053 6,714 Other current liabilities 4,937 3,425 Total current liabilities 75,507 42,319 Long-term debt 158,837 165,602 Other liabilities 29,941 32,043 Total liabilities 264,285 239,964 Minority interest 65,195 64,171 Shareholders' equity 375,327 375,634 Total liabilities and shareholders' equity $704,807 $679,769 -0-
BATTLE MOUNTAIN GOLD CO.
Consolidated Statement of Cash Flows (unaudited)
(expressed in thousands)
Six months ended June 30,
1995 1994
Cash flows from operating activities
Net income $ 8,776 $ 5,932
Adjustments to reconcile net
income to cash flow from operating
activities:
Depreciation, depletion and
amortization 32,914 24,071
Exploration and evaluation
costs 4,757 3,992
Gain on sale of assets (4,190) --
Write-off of property, plant
and equipment 2,222 --
Deferred income tax expense
(benefit) (1,151) 966
Change in current assets and
liabilities (7,933) 6,217
Other changes, net 2,193 4,190
Total adjustments 28,812 39,436
Net cash flows from operating
activities 37,588 45,368
Cash flows from investing activities
Proceeds for sale of assets 524 --
Acquisition of minority interest -- (5,200)
Investment in Crown Jewel project (2,663) (7,821)
Capital expenditures (92,524) (44,164)
Exploration and evaluation
expenditures (4,679) (4,144)
Other, net (496) 382
Net cash flows used in investing
activities (99,838) (60,947)
Cash flows from financing activities
Cash proceeds from stock
issuances 2,404 6,217
Cash proceeds from borrowings 31,476 --
Cash dividend payments (5,761) (5,746)
Debt repayment (6,860) (7,173)
Other, net (51) --
Net cash flows from financing
activities 21,208 (6,702)
Effects of exchange rate changes on cash and cash equivalents (541) 190 Net (decrease) in cash and cash equivalents (41,583) (22,091) Cash and cash equivalents at beginning of period 76,464 115,338 Cash and cash equivalents at end of period $ 34,881 $ 93,247 -0-
BATTLE MOUNTAIN GOLD CO.
Operating Data
(unaudited)
Three months ended Six months ended
June 30, June 30,
1995 1994(b) 1995 1994(b)
Battle Mountain Complex
Ounces recovered (000s)
Gold 21 10 38 22
Silver 60 22 102 46
Ounces sold (000s)
Gold 21 10 38 22
Silver 60 22 102 46
Costs per equivalent gold ounce (a)
Cash production costs $292 $269 $311 $243
Taxes, other than income 9 10 11 13
DD&A 49 191 55 173
Total operating costs $350 $470 $377 $429
San Luis Ounces recovered (000s) Gold 19 18 36 38 Silver 9 4 15 9 Ounces sold (000s) Gold 20 18 37 38 Silver 9 4 14 9 Costs per equivalent gold ounce (a) Cash production costs $210 $235 $229 $234 Taxes, other than income 13 9 11 9 DD&A 97 65 96 65 Total operating costs $320 $309 $336 $308 Pajingo Ounces recovered (000s) Gold 8 8 16 15 Silver 14 26 32 52 Ounces sold (000s) Gold 7 8 15 14 Silver 13 23 33 51 Costs per equivalent gold ounce (a) Cash production costs $144 $131 $127 $171 Taxes, other than income 2 1 2 1 DD&A 279 35 160 37 Total operating costs $425 $167 $289 $209
Kori Kollo (BMG 88%)
Ounces recovered (000s)
Gold -- BMG net 73 67 144 133
Consolidated 82 76 163 153
Silver -- BMG net 269 272 571 638
Consolidated 305 309 648 734
Ounces sold (000s)
Gold -- BMG net 75 67 145 132
Consolidated 86 76 164 152
Silver -- BMG net 280 273 577 637
Consolidated 318 310 656 732
Costs per equivalent gold ounce (a)
Cash production costs $171 $164 $165 $159
Taxes, other than income -- -- -- --
DD&A 98 98 96 94
Total operating costs $269 $262 $261 $253
San Cristobal (BMG 50.5%)
Ounces recovered (000s)
Gold -- BMG net 12 9 21 17
Consolidated 23 19 41 33
Silver -- BMG net 25 26 46 44
Consolidated 49 49 90 83
Ounces sold (000s)
Gold -- BMG net 11 9 21 17
Consolidated 23 18 42 33
Silver -- BMG net 25 25 46 44
Consolidated 48 48 90 84
Costs per equivalent gold ounce (a)
Cash production costs $244 $188 $269 $257
Taxes, other than income -- -- -- --
DD&A 92 83 87 76
Total operating costs $336 $271 $356 $333
Red Dome (BMG 50.5%)
Ounces recovered (000s)
Gold -- BMG net 14 2 25 6
Consolidated 28 5 49 12
Silver -- BMG net 108 17 184 32
Consolidated 212 33 358 61
Copper -- Consolidated
(000s lbs) 3,761 2,256 6,303 4,822
Ounces sold (000s)
Gold -- BMG net 20 5 22 6
Consolidated 41 10 44 11
Silver -- BMG net 145 25 148 26
Consolidated 282 47 288 50
Copper -- Consolidated)
(000s lbs) 5,258 4,121 5,258 4,308
Costs per equivalent gold ounce (a)
Cash production costs $186 $365 $205 $327
Taxes, other than income -- -- -- --
DD&A 144 4 87 3
Total operating costs $330 $369 $292 $330
Aggregate data
Ounces recovered (000s)
Gold -- BMG net 147 114 280 231
Consolidated 181 136 343 273
Silver -- BMG net 485 367 950 821
Consolidated 649 443 1,245 985
Copper -- Consolidated
(000s lbs) 3,761 2,256 6,303 4,822
Ounces sold (000s)
Gold -- BMG net 154 117 278 229
Consolidated 198 140 340 270
Silver -- BMG net 532 372 920 813
Consolidated 730 454 1,183 972
Copper -- Consolidated
(000s lbs) 5,258 4,121 5,258 4,308
Average price realized
Gold ($/oz) $384 $384 $382 $384
Silver ($/oz) $5.56 $5.24 $5.18 $5.29
Copper ($/lb) $1.24 $0.89 $1.24 $0.86
Weighted average aggregate cost per equivalent ounce (a) Cash production costs $199 $192 $201 $195 Taxes, other than income 3 2 3 3 DD&A 105 91 92 87 Total operating costs $307 $285 $296 $285
(a) Represents operating costs incurred, which, because of changes
in inventory, may not be reflected in operating results for the
period.
(b) Restated.
CONTACT: Battle Mountain Gold Co., Houston Les Van Dyke Van Dyke (or van/Van Dijk or Dyk etc) is a surname of Dutch origin. It refers to:
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