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Luna Sets an Example for Other Gold Miners

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August 16, 2013 – Comments (0) | RELATED TICKERS: GDX , SAND

 Luna Sets an Example for Other Gold Miners

"Luna produced 18,853 ounces at an average unit cash cost of production of $681 per ounce and an average all-in operating cash cost of $938 per ounce. This is among the lowest costs in the industry.

- Revenues of $45.4 million at an average realized gold price of $1,525 per ounce for first half 2013

- Gross profit of $16.4 million for first half 2013

- Net income of $8.7 million ($0.08 per share) for the quarter.

-Operating Cash flow of $9.3 million in the quarter.

- Gold production guidance for the year was revised downwards, from 100K ounces to 80-90K ounces, as the company focuses on producing less gold at higher operating margins."

I believe management is taking all the right steps to create value for shareholders and I will continue to add shares on any dips. 

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