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:Sierra Minerals earns $30,751 (U.S.) in Q3 2009 2009-11-17 09:13 ET - News Release Mr. Michael Farrant reports SIERRA MINERALS EARNS US$30,751 IN Q3 2009 Sierra Minerals Inc. released its unaudited financial results for the third quarter ended Sept. 30, 2009. The consolidated interim financial statements along with management's discussion and analysis are available on SEDAR and on the company's website. All currency references are to United States dollars unless otherwise noted.
Q3 2009 -- highlights - Net earnings for the third quarter were $30,751 or zero cent per
share versus the third quarter 2008 of $664,978 or one cent per share.
- Ounces produced increased 1 per cent to 5,162 compared with 5,111 in the
third quarter 2008.
- Ounces sold decreased by 1 per cent to 5,611 compared with 5,659 in
the third quarter 2008.
- Realized gold price per ounce was $954 compared with $857 in
the third quarter 2008.
- Revenue increased 11 per cent to $5,377,213 from $4,838,653 in the third quarter 2008.
- Cost of sales per ounce was $753 in the third quarter 2009 compared with $592 in
the third quarter 2008.
- Non-brokered private placement completed for proceeds of
$1,832,340 ($2-million (Canadian)).
- Debt was reduced by $404,005 during the third quarter 2009.
- Cash and cash equivalents balance at Sept. 30, 2009, was
$2,354,239.
- Sept. 30, 2009 working capital balance of $1,932,146.
- Non-cash writedown of Los Carlos property of $230,832 to focus
efforts on discovery of new El Cajon gold project.
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