This item is part of Stockwatch's value added news feed and is only available to Stockwatch subscribers.Here is a sample of this item:Arehada Mining earns $1.38-million in Q3 2009-11-16 12:26 ET - News Release Mr. Steve Wang reports AREHADA REPORTS THIRD QUARTER RESULTS AND A RETURN TO PROFITABILITY
Arehada Mining Ltd. has released its third-quarter results and as well is providing an update on its financial conditions.
Revenue for the quarter was $6,031,049 from the mining of 67,478 tonnes of ore, compared with $7,565,106 from 109,586 tonnes in the same quarter last year. The net profit of $1,387,810 or 0.8 cent per share in the third quarter of 2009 compares with a loss of $1,363,432 or 0.8 cent per share for the same quarter in 2008. The profit is primarily due to the increase in metals prices and a significant improvement in head grades.
During the quarter, Arehada conducted mining operations at a rate of approximately 823 tonnes per day and operated 82 days during the period, which is significantly less than the average rate of 1,501 tonnes per day during the same period last year due to the targeting of higher grades.
Head grades of approximately 3.36 per cent zinc and 2.43 per cent lead resulted in an average combined recovery rate of 89 per cent. Silver head grades of 89.35 grammes per tonne met an 82-per-cent recovery factor from the lead concentrate. The remainder is available to Stockwatch subscribers.
If you would like to give the Stockwatch system a try,
click here for a free 30 day trial subscription. | 
Top
Print this Page