Battle Mountain Gold Co. sees higher costs, lower sales impacting second quarter.HOUSTON--(BUSINESS WIRE)--June 18, 1996--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 said that second-quarter earnings are expected to be impacted by lower average realized gold prices, continuing lower-than-anticipated head grades at the Kori Kollo mine in Bolivia, and reduced gold sales resulting largely from an inability to ship all of the production from the Red Dome mine Dome Mine is situated in the City of Timmins, Ontario, Canada; now known as part of Porcupine Joint Venture. The original Dome Mine (Tisdale Township) was still operating as of July 2007, its life is slowly coming to an end as the ore is dwindling and quickly becoming in Australia. The 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. shortfall remained in inventory and is expected to be shipped in the fourth quarter of this year. These factors are expected to be somewhat offset by improved production at 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. and Pajingo mines in Colorado and Australia, respectively, as well as lower cash production costs at those properties compared with the first quarter of 1996. BMG Chairman Karl E. Elers noted that after experiencing above- originally-estimated average head grades at the Kori Kollo mine since inception of operations in 1993, the plant has now experienced nearly two quarters of below-average grades, lowering attributable equivalent gold production by approximately 8,800 ounces for the quarter and 15,500 for the first half of 1996, compared with targets of 79,000 and 158,000 equivalent gold ounces, respectively. Grades are continuing to average 2.14 g/t, compared with a target of 2.34 g/t. The lower grades are expected to cause second-quarter cash production costs at Kori Kollo to average $219 per equivalent ounce ounce, in zoology ounce, in zoology: see leopard. ounce, unit of measurement ounce: see English units of measurement. for the quarter, compared with a target of $185, and actual first-quarter costs of $206 per equivalent ounce. Additional drilling and studies are under way to evaluate the lower head grades, as well as adjustments to various ore control operating procedures. The reduced sales from the company's 50.5-percent-owned Red Dome mine amounted to approximately 6,500 ounces. Elers noted that production is slightly ahead of target at San Luis and Pajingo and that cash production costs at San Luis are expected to decline to $236 per equivalent ounce in the second quarter, compared with $273 in the first period of this year, while costs at Pajingo are expected to decline to $208, compared with $292 in the first quarter of 1996. Elers added that work on the company's merger with Hemlo Gold Mines Inc. is proceeding as planned toward an anticipated closing the week of July 15, following shareholder and legal approvals. 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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