Luna Gold Corp. (TSX:LGC,OTCQX: LGCUF) announced its second quarter and half year financial and operating results. The company recorded a net income of $100,000 for the quarter.
As quoted in the press release, highlights from the company’s results included:
- Revenue of $16.1 million, including sales to Sandstorm;
- Gold sales and production of 13,882 ounces and 14,262 ounces respectively;
- Total cash cost of production of $1,140, All-in sustaining cost of production of $1,297, All-in cost of $1,484 per ounce of gold produced;
- Cash flow from operating activities before changes in non-cash working capital of $(0.20) million ($0.00 per share);
- Net income of $0.10 million ($0.00 per share); and
- After closing the Sandstorm Gold Ltd. (“Sandstorm”) strategic investment in Luna, the Company has a cash balance of approximately $35.5 million and 6,700 ounces of finished gold inventory.
Nexus Gold Corp. (TSXV:NXS) is currently drilling on the Walker Ridge Gold Project in Nevada - a multiple target, Carlin-type gold exploration property. They have recently submitted an expanded Plan to increase the current 8 pad plan to 29 drill pads.
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