Crocodile Gold’s Revenue Rises 32%, Reiterates Guidance

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By jturbin | November 16, 2012 3:49 AM EST

Gold Alert

Crocodile Gold (CRK.TSX) announced its third quarter financial and operating results, which included a 32% rise in revenue to $78.7 million on gold sales of 47,121 ounces.  Mine operating earnings came in at $7.0 million, 18% above the $5.9 million during second quarter of this year.

Highlights:

* Cash flow from operations climbed from $4.9 million in the second quarter to $32.5 million

* Reiterated full-year production guidance of 40,000-50,000 ounces for Northern Territory Operations in Australia

* Affirmed full-year production guidance of 82,000-87,000 ounces for the Fosterville Mine and 69,000-74,000 ounces for the Stawell Mine, both in the Australian state of Victoria

Chantal Lavoie, President and CEO of Crocodile Gold:

“The third quarter physical and financial results demonstrate our continued growth since the beginning of the year as we concentrate our efforts on better quality ore sources in the Northern Territory (Cosmo Mine) and realize the full benefit of our new assets at Fosterville and Stawell during the quarter.”

Company Management:

“Excellent progress was made on key projects, which will position us well for continued profitable production growth in 2013.”

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This article is contributed by Gold Alert and does not represent the views or opinions of International Business Times.

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