Scorpio Gold Reports Net Earnings of $11.5 Million for 2012

Scorpio Gold Corporation (TSXV:SGN) announced their financial results for 2012 and for Q4.

As quoted in the press release:

2012 HIGHLIGHTS:
Operating revenue of $52.6 million.
Total cash cost per ounce(1) of gold sold of $948.
Mine operating earnings of $14.8 million.
Net earnings of $11.5 million.
Earnings per share of $0.06.

Scorpio Gold’s President and CEO, Peter Hawley, said:

Despite numerous challenges in our first year of commercial production at Mineral Ridge, the Scorpio Gold team rose to each challenge and met the Company’s 2012 production guidance. Operations in Q4 continued to improve on cost performance while increasing overall gold production. Total earnings for the year were $0.06 per share, with half of that coming from Q4 earnings. Scorpio Gold is focused on creating value for its shareholders and we are proud to have met our goals set for 2012 and look forward to further successes in 2013.

To view the whole press release, click here.