Controller for Invasion Mountain and gold sell Baldrige served BMG as Overseer of
obtains final Crown Gem EIS; sees reduce 1997 costs.
Intrusion Mountain Gold publishes deficits for quarter/year; obtains final Crown Gem EIS; sees reduce 1997 costs.
HOUSTON--(BUSINESS WIRE)--Feb. 3, 1997--Battle Mountain Gold Co.
(NYSE NYSE
See: Ny Stock Transfer :BMG/TSE:BMC (BMC Robots, Inc., Houston, TX, ) A number one seller of robots which helps with and boosts the availableness, performance, and recovery of applications in complicated computing environs. ) MondayMonday: see week. exclaimed a 4th quarter 1996 consolidated
web deficits of $ mil, or 17 nickels for each share Nickels for each share
The quantity of a mutual fund's dividend or finances benefits distributions which a shareholder are going to gain for each share possessed. , attributable to quite typical
investors.
The 4th quarter 1996 deficits compares with a web deficits of $
mil within the equivalent period last yr. For the yr 1996, the
consolidated web deficits was $ mil, or 36 nickels for each share, likened
with net gain of $ mil, or 10 nickels for each share, within the equivalent
period in 1995.
BMG BMG Bundesministerium für Gesundheit (Germand: Federal Ministry for Health)
BMG Be My Gal
BMG Blue Man Team
BMG Bertelsmann Music Team
BMG Be My Invitee
BMG Browning Machine Firearm
BMG Bulk Metal-like Goblet Chairman Karl E. Elers, writing which 1996 shown a
conversion yr concerning the combination with Hemlo Gold, mentioned the firm
was detrimentally influenced by grown revenue tax penalties and fees; previously
exclaimed property, plant and gear write-offs and combination expenditures;
taller mine cash operating costsoperating costs npl → gastos mpl operacionales ; taller inspection expenses; and
grown devaluation, depletiondepletion n. any time a natural resource (especially petroleum) is being used up. The yearly quantity of depletion might, sarcastically, offer a tax reduction in price for the firm using the resource since if ever the resource they have been using runs out, they'll no more be capable and amortization penalties and fees.
Elers mentioned the 4th quarter deficits was mostly the consequence of
oddly high revenue tax penalties and fees totaling $25 mil; $ mil of
costs related to the speeded up completion of mining at San LuisSan Luis, city (1991 pop. 110,353), finances of San Luis prov., W central Argentina. Town 's the commercial centre of a region generating livestock, hammer toe, and asparagus; the encircling sector has trees and shrubs and mineral bounty. San Luis is a well-liked resort. ; $
mil of extra combination expenditures related to the election of sure
exec officers to leave the firm; $2 mil of restructuringrestructuring - The alteration from one illustration form to an additional at the equivalent family member abstraction grade, whilst maintaining the niche system's extraneous behaviour (functionality and semantics). costs related to Niugini Mining Ltd. (NML (language) nML - A specification language for instruction sets, based on attribute grammars, for back-end generators.
["The nML Machine Description Formalism", M. Freericks <> TR TU Berlin, FB20, Bericht 1991/15]. ); and $ mil of asset
note down downs related to the Red Domedome, a rooftop spherical or (seldom) elliptical in plan and often hemispherical in form, placed beyond a spherical, square, rectangle-shaped, or polygonal space. Domes have been developed with a certain amount of outlines and of numerous materials. milling operations.
The earnings tax penalties and fees of $25 mil pop up although a pre-tax
deficits of $11 mil was incurred in the course of the quarter. This correlates
chiefly to the business's revised foreign dividend repatriation Repatriation
The procedure of changing a foreign money in to the currency of one's own country.
Notes:
If you are American, changing Brit Lbs back to . greenbacks is a case of repatriation. method where by held and existing incomes of the business's
CanadianCanadian (kənā`dēən), river, 906 mi (1,458 kilometre) long, ascending in NE New Mexico. and flowing E across N Texas and central Oklahoma in to the Arkansas River in E Oklahoma. operations are at present expected to be repatriated to the U . s .
StatesUnited where to buy gold Alleges, formally U . s . Alleges of The sell gold jewelry u . s, republic (2005 est. pop. 295,734,000), 3,539,227 sq mi (9,166,598 sq kilometre), Northern The u . s. The us buying gold online 's the globe's 3rd broadest country in inhabitants and the 4th broadest country in sector. .
This decision handed uprise to the need to offer Canadian
withholding taxesThe amount by law subtracted from an employee's salaries or wage by the recruiter, who uses it to pre-pay the fees imposed by the feds on the employee's annual incomes. on such held incomes Held Incomes
The proportion of web incomes not compensated in dividends, but held by the firm to be reinvested in its core enterprise or to pay account balance. It is certainly taped under investors equity on the total amount sheet. and to offer a assessment
allowance for sure previously recognised . Federal revenue tax
gains that are no more likely to be noticed due to foreign tax
credits.
To an inferior magnitude, existing quarter revenue tax provisions were
needful in Canada ($ mil) where taxes would be paid for that
there's no consolidated benefit and for Bolivian mining taxes ($
mil).
Cash flows from operating performances declined to $57 mil in
1996, likened with $74 mil in 1995, mostly due to combination
expenditures paid by the firm. BMG's yr finale cash position was
$103 mil.
Finances expenses were reduced to $58 mil in 1996,
likened with $145 mil in 1995 when finances were employed in the
construction of Holloway and to offer financing for the Lihir project.
Attributable gold production for the 4th quarter was
approximately 218,000 ounce, likened with 193,000 ounce within the equivalent
period one year earlier. For the yr 1996, gold production totaled
916,000 attributable ounce, likened with 843,000 ounce all through 1995.
Cash production costs averaged $230 for each ounceounce, in zoology
ounces, in zoology: see , unit of measurement
ounces: see English units of measurement. sold for the 4th
quarter and $219 for the yr 1996, likened with $212 and $195 for each
ounces sold, respectively, for the equivalent stages in 1995.
The upper operating expense Operating Expense
The fundamental those that a corporation must buy in order to maintain enterprise.
Notes:
For example, the invoice of staffs salaries are a practical expense.
Often referred to as OPEX. for 1996 mostly indicates
grown operating costs at Kori Kollo and quite typical operations Normally and jointly, the wide-ranging functions which a combatant commander undertakes when allocated duty for a given geographic or functional sector. Except as another way licensed in sure unified command plan paragraphs which relate to especial commands, "quite typical operations" of at the
Golden Mega. Elers accentuated which three new, cheaper mines --
Holloway, Vera/Nancy and Lihir -- are going into full production this
yr and are needed to help lessen aggregate cash production costs for each
ounces.
The fresh mines are going to substitute three of the business's smaller,
taller cost mines -- San Luis, Silidor and Red Dome -- all of that are able to
have been got rid of of operation by the instant half of this yr, as
reserves are depletedde·plete
.de·plet·ed, de·plet·ing, de·pletes
To reduce the bloatedness of; exhaust or devoid out.
[Latina d.
Kori Kollo Reserve Elimination and Financial savings
Overview of the reserves at the Kori Kollo mine in 1996 has
turned up a downhill modification of 320,000 attributable ounce, or
approximately 10 p'cent of the yr finale 1995 Kori Kollo ore reserves.
The reserve elimination is because of refinements to the block
model mixing up informations grouped from inside the past four years mining, and
addition of results from 18 new jewellery drill holes that has showed
which the sooner inverted flow drilling and block model had
overstatedo·ver·state
.o·ver·stat·ed, o·ver·stat·ing, o·ver·states
To state in over-stated clauses. See Synonyms at exaggerate.
o the reserves.
Elers mentioned he hopes nil further alterations to the Kori Kollo
ore model. BMG hopes to trim production costs by approximately $11
mil at Kori Kollo in 1997, likened with 1996. It has budgeted
production of 284,000 attributable ounce at cash operating costs of
$186 for each gold ounces sold this yr, likened with 270,000 ounce and
$225 for each ounces sold in 1996.
Operating Outlook Highlights
Looking into the business's maturity portfolio, Elers and BMG
President Ian Bayer mentioned which BMG's all in all method calls for
maturity to start in both inspection and value-added acquisition.
The targets on both counts are 1 mil ounces plus reserves,
with cash costs within the $200 for each ounces or less range. Whilst maturity in
ounce is vital, the principal goal is to maximize shareholder
value and cash circulation, they mentioned.
BMG's existing reserve position is well diversifieddiversified (di·verˑ·s, with
nearly two-thirds of its ounce located within Northern AmericaNorth The usa, 3rd broadest continent (1990 est. pop. 365,000,000), ,400,000 sq mi (24,346,000 sq kilometre), the north of the 2 continents of the Western Hemisphere. . Based on
existing development campaigns, by the finale of the decade, some 70 p'cent
of the business's production is additionally expected to begin in Northern
The usa, likened with about 59 p'cent this era.
For 1997, aggregate cash production costs are required to average
about $200 for each gold ounces sold, down some 10 p'cent likened with 1996.
Over all aggregate operating costs are required to be approximately $290
for each gold ounces sold. Over all attributable gold production is predicted to
be approximately 920,000 ounce this 365 days.
Operations at the Golden Grand keep on aim in regard to
production and costs. Yearly gold production there in 1997 is predicted
to be about 360,000 ounce, with cash costs near $One hundred and forty for each ounces sold.
BMG has an p'cent interest within the Holloway mine in
northeastern OntarioNortheastern Ontario 's the area in the Canadian province of Ontario that fabrications northern and east of Wetlands Superior and Huron.
Northeastern Ontario comprises of Algoma District, Sudbury District, Cochrane District, Timiskaming District, Nipissing District, Manitoulin , that professional a slower than anticipated
start-up Start-up
The very first stage of a brand new enterprise collaboration. within the 4th quarter of 1996. Attributable gold production
Bonuses was 11,000 ounce at a cash operating cost of $393 for each gold ounces sold.
For 1997, production is predicted to be about 80,000 attributable
ounce, with focused cash operating costs for each gold ounces sold of $223
and over all operating costs of $337. Investigation certainly likely within the
Matheson region surrounding the Holloway property is very good, and indeed at
the mine site itself where drilling last 365 days acknowledged elemental
certainly likely at depth below the chief Holloway ore body.
Which drilling crossed the Lightning Zone, some 600 metres
below the deepest prior hole, where it went back assays of grams
of gold above a meter interval. This intersectionintersection /in·ter·sec·tion/ (-sek´shun) a site at that one structure crosses an additional.
intersection
a site at that one structure crosses an additional. verifies the
excellent certainly likely to enhance reserves at Holloway at depth.
Some auxiliary surface drilling would be conducted this 365 days, but
the focal point at Holloway would be on getting the fresh mine operating
calmly and on budget.
At the Crown Gem Crown gem
An especially beneficial or another way especially valuable corporate unit or asset of an enterprise. Usually use within jeopardy arbitrage. The most desirable entities throughout a varied corp as assessed by asset value, earning strength, and enterprise prospects; in takeover project in Washington state, the Ecological
Affect Declaration (EIS(1) (Administrative Info System) A data system which consolidates and summarizes on going exchanges in the organization. It offers top leadership with all that info it demands all the time from internal and extraneous sources. ) has been concluded See finalization. , a favorablefa·vor·a·ble
adj.
1. Advantageous; handy: favourable winds.
2. Supporting; propitious: a favourable prognosis.
3. Record of
Decision issued, and the file is during the procedure of being
distributed. Work is at present underway to receive the various development and
operating permits.
Historically, there can be appeals linked with both the EIS
and the authorizing process, and it's really hard to foretell their
length of time. Construction must start when the process has ended.
Production at Crown Gem is expected to be within the 130,000
ounces range attributable to BMG from its 54 p'cent interest within the
project. Cash operating costs for each gold ounces sold are required to
average about $165 above the life of the mine.
At the Invasion Mountain Complicated, the Phoenix authorizing process is
moving front, and the business enterprise persists to look at substitutions to
improve the economics of the project. Yearly production is predicted to
be within the 200,000 ounces every year range by the finale of this decade.
At the Vera/Nancy property in QueenslandQueensland, state (1991 pop. 2,477,152), 667,000 sq mi (1,727,200 sq kilometre), NE Australia. Brisbane 's the funds; other vital urban areas are Gold Inshore, Toowoomba, Townsville, Rockhampton, Cairns, and Ipswich. , Australia, above 1
mil incorporated ounce of mineralizationMineralization
The procedure by that the human body uses vitamins to construct bone structure.
Said in: Rickets
mineralization,
n the bioprecipitation of an inorganic gunk. have been acknowledged to date.
BMG has a Fifty percent interest within this property along with Normandy
Mining Ltd, which could be the operating partner.
Preliminary production 're going to make use of the Pajingo mill that has been
stretched to 800 tons for each day potency. Mining of the little Vera open
pit is at present complete and ore has been stockpiled. Full production from
undercover is expected within the 2nd half of the 365 days at the exact amount
yearly ratio of around One hundred thousand ounce.
The mineralization 's still open at depth below 1,300 toes and
above fractions of its hit length. Auxiliary investigation would be
executed as the undercover mining progresses. Due to the
current infrastructure, development costs and DD&A would be
comparatively low.
By 1998, BMG's share of production there has geared to
about 50,000 ounce, with cash costs expected to wither to about $150
for each gold ounces sold, and over all costs of some $185 for each ounces, yielding
excellent cash circulation.
At Lihir in Papua New GuineaPapua New Guinea (păp`ə, –y, work is improving well with a
projected mid 365 days set up of mining of the oxideoxide, chemical compound comprising oxygen and one other chemical factor. Oxides are publicly and abundantly distributed in mother earth. Essential fluids 's the oxide of hydrogen. Polymer dioxide 's the major portion of sand and quartz. ore. At the finale of
the 4th quarter of 1996, engineering for the project was 99 p'cent
complete and over all construction was 67 p'cent complete. Construction
for the oxide ore facilities was 72 p'cent complete.
According toaccording to
prep.
1. As stated or displayed by; on the authority of: according to historians.
2. Consistent with: according to directions.
3. the operator, RTZ RTZ Rio Tinto Zinc
RTZ Return To Nil
RTZ Return to Zork (game)
RTZ Retail Commerce Zone , production in 1997 is predicted to
over all about 18,000 ounce attributable to BMG from its internet p'cent
interest through its p'cent possessed Niugini Mining (NML) secondary.
Processing of sulphidesulphide: see sulfide. ore can start as soon as Oct 1997.
By 1998, the business enterprise intends to realize above 50,000 attributable
ounce from Lihir and close to 70,000 attributable ounce in 1999 and
2000. Cash costs there above the following few years are anticipated to
average near $200 for each ounces sold.
Investigation Priorities
BMG intends to spend about $35 mil in 1997 looking around
properties that range in activity from early reconnaissanceThis article or segment needs replicate adapting for sentence structure, style, cohesion, tone and/or spelling.
You can aide by [ adapting it] at present. to advanced
drilling. High precedence targets contain El Cairo, Volta GrandeVolta Grande is actually a Brazilian city within the state of Minas Gerais. As of 2004 its inhabitants is evaluated to be 5,118. ,
Pajingo, and Dunkwa, and indeed BMG's expansive land holdings
surrounding the firm’s existing operations.
At the Vera/Nancy property, on going investigation work is
continuing to comeback achievements. Drilling to the northern of the
Vera/Nancy resource appears to be outlining auxiliary high-grade High-grade
Credit virtue of AAA or AA.
high-grade
Of, pertaining to, or being a interconnection with minor jeopardy of default on behalf of the issuer. High-grade is often reserved for bonds ranked AAA or AA by the rating services. lenses, with few of the better jewellery drill holes heading back assays of:
22 g/t Au above 19 metres, g/t above 6 metres, g/t above 9 metres
and 14 g/t above 10 metres.
Invasion Mountain and Normandy are continuing to try on loads of
other targets containing profound areas of known veins and interrelated
geophysicalge·o·phys·ics
n.(used with a sing. verb)
The physics of the planet and its ecosystem, consisting of the physics of grounds namely meteorology, oceanography, and seismology. anomalies''For other uses, see "Anomaly."
Anomalies is Cephalic Carnage's Fourth full-length album. It was published on Relapse Records. The crowd stretched their sound somewhat more than their prior album, Lucid Interval, and earned more fame. . Occasions for auxiliary detection are ranked high.
BMG has a superb land position in Mexico with loads of
virtue targets. Among these is El Cairo, where the business enterprise intends to
job application drilling in Feb .. Through out 1996, expansive surface geochem and
trenching work, along with 8 inverted flow holes, acknowledged a
aim with certainly likely for big tonnage TONNAGE, mar. statute. The potency of a boat or bottle.
2. The act of lawmakers of Parade 2, 1799, s. 64, 1 Story's L. U. S. 630, directs which to insure the tonnage of every boat or bottle, the surveyor, &c. , bulk mineable, leachable gold
deposit.
Of the eight holes drilled, seven confronted http://africafoto.com/ elemental widths
of anomalousa·nom·a·lous
adj.
1. Deviating from a common or normal order, form, or govern.
2. Equivocal, as in category or mother earth. gold mineralization, with the best assays being: g/t
Au above A hundred metres, with the hole putting an end to in mineralization.
Very supporting results were expressed in 1996 from a Dunkwa
property located in the Ashanti gold belt in Ghana. A complete of 14
holes drilled on the Mampon forecast have defined a Four hundred meter long,
"light" plungingplunge
, plung·ing, plung·es
.
1. To thrust or toss sharply into a gunk or place: zone of mineralization. The zone is open along hit
and down immerse and would be further examined by drilling, most probably later this
quarter.
Strong unyielding gold-arsenic-antimony soil anomalies have been
defined any place else on the Dunkwa property, that range from one to five
kilometers in hit length. Testing must start on these targets in
Feb ..
In Brazil, Volta Grande, situated in Parapara (par´ah) a lady who has yielded more than one practicable kids, irrespective of even when the infant or those under 18 were living at birth. State, comprises a 150
square kilometer kilometer
ten hundreds (103) metres; toes; five-eighths of a mile; abbreviated kilometre. concession underlainun·der·lain
v.
Past participle of underlie. by Archean greenstonegreen·stone
n.
Any of numerous changed rudimentary igneous rocks coloured green by chlorite, hornblende, or epidote.
greenstone
Noun
NZ a form of green jade used for Maori carvings and decorations
and
granite-gneiss land surface. Some twenty centres of garimpeiro workings
take place along a A dozen by 8 kilometer belt in the region.
Multi drill targets have been recognized by BMG's Joint venture
partner, TVX TVx Aim Vertex
TVX Transmission Effective Timer (FDDI)
TVX Effective Transmission , with an existing drilling program centered at a kilometer
by 200 meter, strong surface gold anomaly Abnormality or divergence. Pronounced "uh-nom-uh-lee," it's a favourite word among pc folk when complicated systems generate outflow that's unexplainable. See robots collide and anomaly discovery. . Results from a existing
program continue to be highly supporting, with multi individual
areas of mineralization ranging from 4 to 36 metres in density at
levels ranging from g/t to 6 g/t Au.
Officer Transforms
As previously exclaimed, through out Jan 1997, three senior
officers of the business enterprise exclaimed their motives to willingly resign
from BMG under clauses of change-of-control severance covenant - an covenant on the clauses on that a staff 're going to leave
covenant, empathetic - the declaration (oral or documented) of an transfer of promises; "they had an covenant which they wouldn't meddle in every other people's enterprise"; "there was provoked
by the combination with Hemlo Gold.
The business enterprise is contented to proclaim the appointment of Joseph
Baylis as Senior Vice chairman -- Corporate Development. Baylis 're going to
also persevere his position as President and CEO(1) (Ceo) The tallest individual in charge of an institution. Ordinarily the president of the business enterprise, the Chief executive officer reports to the Chairman of the Board. of Niugini Mining Limited.
As well as that, Jeffrey Energies has been named Vice chairman --
Controller, and Anne Baldrige has been named Vice chairman --
Ecological and Governmental Affairs.
Baylis had previously served as Vice chairman -- Investor
Relationships Investor relationships
The procedure by that the corp conveys with its shareholders. and General Counsel for Hemlo Gold. Energies most latterly was
Ecological and Governmental Affairs.
Outlook
In overview, the effects for 1996 should not be regarded as
indicative of up coming performance, Elers mentioned. Managements concentrate is
squarelysquare·ly
adv.
1. Arithmetic At right perspectives: sawed the beam squarely.
2. In a square shape.
3. on progressing the performance of the business's possessions and
on maturation for the up coming. BMG is well located to maintain a robust
fiscal core.
New project funding Project funding
A type of asset-based funding during which an enterprise capital a discrete set of possessions on a stand-alone basis. would be broadly internal from strong cash
circulation. BMG has production maturation within the pipeline, low cash production
costs, a well capitalized Capitalized
Taped in asset passwords and so therefore depreciated or amortized, as is acceptable for expenses for devices with useful resides more time than a year. balance sheet, varied and well financed
investigation and M&A programs, and the critical mass to respond to
probabilities which could come up. -0-
Note: The U.S. Personal Securities Legal case Reform Act The personal Securities Legal case Reform Act of 1995 (PSLRA) carried out quite a few elemental substantive transforms impacting sure good examples brought beneath the federal securities ordinances, consisting of transforms related to begging, detection, legal responsibility, class illustration and accolades outgoings and of
1995 offers a safe harbor Safe Harbor
1. A lawful provision to cut back or annihilate legal responsibility only when good religious beliefs is demonstrated.
2. A type of shark resistant carried out by an objective business enterprise obtaining a enterprise that's so poorly regulated which the objective itself is less lovely. for sure forward-looking statementsforward-looking declaration
A projected financial plan based on leadership anticipations. A forward-looking declaration involves dangers with regard to the accuracy of presumptions underpinning the projections. .
Operating, investigation and fiscal informations, and other statements within this
file, are based on info which the business enterprise believes fair,
but encircle elemental doubts as to up coming gold buyerss, costs,
ore gradesOre level is actually a quantify which clarifies the emphasis of an invaluable natural material (namely alloys or vitamins) in its habitat ore. Ore level is used to measure the economic feasibility of a mining operation: the price of withdrawing an organic material from its ore is upright , mining and processing conditions, and regulatory and
authorizing matters. Factual results and timetables may differ
substantially from a approximates presented. Also refer to the
Cautionary Declaration included in the firm’s Form 10-QForm 10-Q
See 10-Q. for the
latest quarter. -0-
Invasion Mountain Gold Co.
Compacted Consolidated Declaration of Hard cash
(unaudited)
(in 1000s, except per-share informations)
3 months finished 365 days finished
December. 31, December. 31,
1996 1995 1996 1995
Sales $107,665 $106,425 $423,980 $401,189
Costs and
gold dealers expenditures
Production costs 74,124 67,386 257,164 228,439
Devaluation, depletion
and amortization 27,778 26,598 94,187 86,547
Investigation, appraisal and
other rent costs 11,475 8,663 33,532 26,019
Combination expense 2,705 -- 22,703 --
Asset write-downs 1,426 -- 39,877 2,222
General and executive
expenditures 6,069 4,094 19,019 16,339
Over all costs and expenditures 123,577 106,741 466,482 359,566
Operating hard cash (15,912) (316) (42,502) 41,623
Investment hard cash 2,945 2,091 9,876 11,325
Interest (expense) (2,019) (2,183) (6,885) (7,644)
Other hard cash (expense), internet 263 844 (1,665) 2,692
Hard cash before hard cash taxes and
small section interest (14,723) 436 (41,176) 47,996
Hard cash tax benefit (expense) (24,986) 1,914 (37,470) (7,489)
Mining taxes (1,964) 1,674 (11,653) (4,656)
Small section interest in internet
(hard cash) deficits 4,060 (2,388) 15,959 (6,156)
Net gain (deficits) (37,613) 1,636 (74,340) 29,695
Preferred dividends 1,869 1,869 7,475 7,476
Net gain (deficits) to normal
shares $(39,482) $ (233) $(81,815)$ 22,219
Hard cash (deficits) for each normal
share (17 nickels) -- (36 nickels) 10 nickels
Dividends for each normal share -- -- 5 nickels 5 nickels
Average normal shares
awe-inspiring for hard cash-
per-share intentions 229,693 229,074 229,561 233,385
-0-
Invasion Mountain Gold Co.
Compacted Consolidated Balance Sheet
(unaudited)
(in 1000s)
December. 31,
1996 1995
Possessions
Existing possessions
Cash and cash equivalents $ 103,004 $ 142,202
Passwords and notes receivable 48,741 30,591
Inventories 10,440 6,286
Materials and makes available, at
average cost 28,939 31,695
Other existing possessions 12,688 13,031
Over all existing possessions 203,812 223,805
Investments 246,146 244,352
Property, plant and
tool, internet 574,478 640,764
Other possessions 21,553 36,063
Over all possessions $1,045,989 $1,144,984
Liabilities and Stockholders' Equity
Existing liabilities
Temporary borrowings $ 21,800 $ 14,835
Existing maturities of
long-term account balance 13,595 13,427
Passwords payable and
cumulated liabilities 44,664 34,869
Hard cash and mining taxes
payable 18,103 10,358
Other existing liabilities 6,119 5,049
Over all existing liabilities 104,281 78,538
Long-term account balance 139,206 169,175
Deferred hard cash and mining taxes 116,012 109,754
Other liabilities 40,996 34,536
Over all liabilities 400,495 392,003
Small section interest 107,214 123,569
Shareholders' equity 538,280 629,412
Over all liabilities and
shareholders' equity $1,045,989 $1,144,984
-0-
Invasion Mountain Gold Co.
Compacted Consolidated Declaration of Cash Flows
(unaudited)
(in 1000s)
365 days finished December. 31,
1996 1995
Cash flows from operating performances:
Net gain (deficits) $(74,340) $ 29,695
Modifications to reconcile internet
hard cash (deficits) to cash flows
from operating performances:
Devaluation, depletion and
amortization 94,187 86,547
Receive on sale of possessions (205) (5,153)
Asset write-downs 39,877 2,222
Deferred hard cash tax
expense (benefit) 12,247 (1,278)
Alter in existing possessions and
liabilities (5,790) (44,159)
Other transforms, internet (9,402) 5,988
Over all modifications 130,914 44,167
Internet cash flows from operating
performances 56,574 73,862
Cash flows use within making an investment performances:
Proceeds from sale of possessions 891 5,636
Funds expenses (58,460) (144,590)
Other, internet 2,373 (6,076)
Internet cash flows use within
making an investment performances (55,196) (145,030)
Cash flows use within funding performances:
Cash proceeds from stock
issuances 2,530 19,884
Cash proceeds from borrowings 18,717 73,949
Cash dividend payments (22,569) (26,055)
Enhance (lessen) in brief-
term borrowings 8,821 --
Account balance repayments (50,376) (77,023)
Other, internet 74 (88)
Internet cash flows use within
funding performances (42,803) (9,333)
Consequence of transfer ratio transforms
on cash and cash equivalents 2,227 4,387
Internet lessen in cash and cash
equivalents (39,198) (76,114)
Cash and cash equivalents at
starting off of period 142,202 218,316
Cash and cash equivalents at
finale of period $ 103,004 $ 142,202
-0-
Supplemental Info
Invasion Mountain Gold Co.
Operating Informations /a
(unaudited)
(all sales and production numerals reflect
BMG-attributable interests)
3 months finished A year finished
December. 31, December. 31,
1996 1995/b 1996 1995/b
Golden Grand
Gold retrieved (000s oz)/c 86 36 371 234
Silver retrieved (000s oz.) 6 1 18 13
Gold sold (000s oz.) 86 36 371 234
Silver sold (000s oz.) 6 1 18 13
Cost for each gold ounces sold/c
Cash production costs $156 $174 $137 $128
Devaluation, depletion and
amortization 65 78 62 57
Reclamation and mine-closure
costs 4 3 3 2
Over all production costs $225 $255 $202 $187
Kori Kollo (88 p'cent interest)
Gold retrieved (000s oz.) 67 76 270 298
Silver retrieved (000s oz.) 171 315 801 1,153
Gold sold (000s oz.) 66 74 274 297
Silver sold (000s oz.) 168 307 816 1,154
Cost for each gold ounces sold/c
Cash production costs $221 $186 $225 $178
Devaluation, depletion and
amortization 111 88 106 88
Reclamation and mine-closure
costs 9 3 5 3
Over all production costs $341 $277 $336 $269
Holloway Jv ( p'cent interest)
Gold retrieved (000s oz.) 11 -- 11 --
Silver retrieved (000s oz.) -- -- -- --
Gold sold (000s oz.) 4 -- 4 --
Silver sold (000s oz.) -- -- -- --
Cost for each gold ounces sold
Cash production costs $393 $ -- $393 $ --
Devaluation, depletion and
amortization 174 -- 174 --
Reclamation and mine-closure
costs 2 -- 2 --
Over all production costs $569 $ -- $569 $ --
Invasion Mountain Complicated
Gold retrieved (000s oz.) 20 18 73 75
Silver retrieved (000s oz.) 30 54 201 207
Gold sold (000s oz.) 22 18 73 75
Silver sold (000s oz.) 34 54 201 207
Cost for each gold ounces sold/c
Cash production costs $262 $399 $307 $328
Devaluation, depletion and
amortization 33 78 59 63
Reclamation and mine-closure
costs 40 4 34 4
Over all production costs $335 $481 $Four hundred $395
San Luis/d
Gold retrieved (000s oz.) 5 17 54 72
Silver retrieved (000s oz.) 4 8 32 32
Gold sold (000s oz.) 6 17 54 72
Silver sold (000s oz.) 4 8 32 32
Cost for each gold ounces sold
Cash production costs $ -- $272 $316 $261
Devaluation, depletion and
amortization -- 86 163 96
Reclamation and mine-closure
costs -- -- 81 6
Over all production costs $ -- $358 $560 $363
Pajingo/d
Gold retrieved (000s oz.) 1 11 28 36
Silver retrieved (000s oz.) 4 6 28 44
Gold sold (000s oz.) 1 11 28 37
Silver sold (000s oz.) 4 6 28 48
Cost for each gold ounces sold
Cash production costs $ -- $222 $226 $182
Devaluation, depletion and
amortization -- 64 81 93
Reclamation and mine-closure
costs -- 2 2 4
Over all production costs $ -- $288 $309 $279
San Cristobal ( p'cent interest)
Gold retrieved (000s oz.) 9 9 39 41
Silver retrieved (000s oz.) 19 24 93 97
Gold sold (000s oz.) 10 9 39 41
Silver sold (000s oz.) 20 25 93 97
Cost for each gold ounces sold/c
Cash production costs $382 $318 $362 $307
Devaluation, depletion and
amortization 44 116 86 96
Reclamation and mine-closure
costs -- -- -- --
Over all production costs $426 $434 $448 $403
Red Dome ( p'cent interest)
Gold retrieved (000s oz.) 11 17 43 57
Silver retrieved (000s oz.) 66 78 278 320
Copper retrieved (000s lb) 1,116 1,288 4,618 5,514
Gold sold (000s oz.) 21 27 44 56
Silver sold (000s oz.) 153 151 306 305
Copper sold (000s lb) 2,615 2,708 4,895 5,411
Cost for each gold ounces sold/c
Cash production costs $247 $138 $240 $One hundred forty four
Devaluation, depletion and
amortization 159 169 145 One hundred fifty five
Reclamation and mine-closure
costs 9 8 10 2
Over all production costs $415 $315 $395 $301
Silidor Jv (55 p'cent interest)
Gold retrieved (000s oz.) 7 9 26 31
Silver retrieved (000s oz.) -- -- -- --
Gold sold (000s oz.) 7 9 26 31
Silver sold (000s oz.) -- -- -- --
Cost for each gold ounces sold
Cash production costs $297 $303 $333 $327
Devaluation, depletion and
amortization 90 120 75 82
Reclamation and mine-closure
costs 7 4 4 7
Over all production costs $394 $427 $412 $416
Aggregate informations
Gold retrieved BMG share
(000s oz.) 218 193 916 843
Gold sold BMG share (000s oz.) 223 203 914 843
Gold retrieved (000s oz.) 247 230 1,034 978
Gold sold (000s oz.) 263 249 1,034 978
Average price for each oz. noticed $381 $387 $391 $384
Silver retrieved BMG share
(000s oz.) 300 486 1,451 1,866
Silver sold BMG share (000s oz.) 389 553 1,495 1,857
Silver retrieved (000s oz.) 407 630 1,924 2,427
Silver sold (000s oz.) 583 768 1,998 2,403
Average price for each oz. noticed $ $ $ $
Weighted average cost for each gold ounces sold/c
Cash production costs $230 $212 $219 $195
Devaluation, depletion and
amortization One hundred and five One hundred and five 91 87
Reclamation and mine-closure
costs 22 4 10 3
Over all production costs $357 $321 $320 $285
/a -- Proficient at the 2nd quarter of 1996, BMG started reporting its
operating costs on the foundation adopted this year's 365 days by The Gold
Institute. As a consequence, as well as that to mining, milling and plant
grade G&A expenditures, cash production costs contain royalties,
freight, smelting costs and allowances and production taxes.
Credits for by-product silver and copper are offset against
these cash production costs. This new Northern American benchmark
also offers for reporting on an expense basis, quite
than cost-per-equivalent-gold-ounce.
/b -- Restated to conform with new operating cost reporting benchmark.
/c -- Excludes asset write-downs in 1996 and 1995 and ounce yielded
and costs incurred at the Golden Grand mine through the 1995
hit.
/d -- Production halted at the operations through the 4th quarter
of 1996 rendering cost for each ounces info meaningless.
CONTACT: Invasion Mountain Gold Co., Houston
Les Truck DykeVan Dyke (or van/Van Dijk or Dyk et cetera) is actually a surname of Nederlander origin. It alludes to: Sir Anthony truck Dyck, (1599 – 1641), Flemish-born artist who resided in England Barry Truck Dyke (born 1951), American actor, son of Cock Truck Dyke , 713/653-7248
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