Crew Gold Gives Production and Cash Update
(Thomson Reuters ONE) - Corporate news announcement processed and transmitted by Hugin AS.The issuer is solely responsible for the content of this announcement. ------------------------------------------------------------------------------------ Press Release - September 10, 2009 Crew Gold gives production and cash updateLONDON, United Kingdom: ("Crew" or "the Company") (TSX: CRU) (OSE:CRU) As requested by certain of the Company's bond holders, Crew isreleasing the following production and cash update in advance ofits regular quarterly report due on or before November 15, 2009.As reported in the Q2 quarterly report issued on August 14, 2009, SAGmill 01 was taken offline for bearing replacement and the Lerocrusher was expected to be out of service until late August due todamage caused by lightning. The electrical repair was completed inthe last week of August and SAG 1 commenced operations on September7, 2009. However the plant continued on only one train for July andAugust and only lower grade material could be milled due to the Lerocrusher problems. The result was that gold produced at Lefa in Julyand August was 14,109 and 12,213 ounces respectively. As a result,cash and cash equivalents held by the Company at the end of June 2009was $18.5 million and at the end of August 2009 was reduced to $9.5million.William LeClairInterim CEOSafe Harbour StatementCertain statements contained herein that are not statements ofhistorical fact may constitute forward-looking statements and aremade pursuant to applicable and relevant national legislation(including the Safe-Harbour provisions of the United States PrivateSecurities Litigation Reform Act of 1995) in countries where Crew isconducting business and/or investor relations. The words "expect","anticipate", "will", "believe" and "may", and other similarexpressions, are often used to identify forward-looking statements.Forward-looking statements involve known and unknown risks,uncertainties and other factors that could cause actual events orresults to be materially different from the events or resultsexpressed or implied by such forward-looking statements. Inevaluating these statements, prospective purchasers shouldspecifically consider various factors that may cause actual events orresults to be materially different from the events or resultsexpressed or implied by such forward-looking statements. Risk factorsthat could impact the Company include, without limitation, (1) theactual results of current exploration activities, (2) conclusions ofeconomic evaluations, (3) changes in project parameters as planscontinue to be refined, (4) possible variations in grade and oredensities or recovery rates, (5) failure of plant, equipment orprocesses to operate as anticipated, (6) accidents, labour disputesand other risks of the mining industry, (7) delays in obtaininggovernment approvals or financing or in completion of development orconstruction activities and (8) risks and uncertainties existing inworld capital markets generally. Although Crew has attempted toidentify important factors that could cause actual events or resultsto differ from those described in forward-looking statementscontained herein, there can be no assurance that the forward-lookingstatements will prove to be accurate as actual events or resultscould differ materially from those anticipated in such statements.The material factors and assumptions used to develop forward-lookingstatements include, without limitation, (1) there being nosignificant disruptions affecting operations, whether due to labourdisruptions, supply disruptions, damage to equipment or otherwise,(2) continued development, operation and production at LEFA and Macoconsistent with our current expectations, (3) foreign exchange ratesamong the currencies that Crew does business in being approximatelyconsistent with current levels, (4) certain price assumptions forgold, (5) prices for electricity, fuel oil and other key suppliesremaining consistent with current levels, (6) production forecastsmeeting expectations, (7) the accuracy of our current mineral reserveand mineral resource estimates and (8) materials and labour costsincreasing on a basis consistent with our expectations.Except as may be required by applicable law or stock exchangeregulation, the Company undertakes no obligation to update publiclyor release any revisions to these forward-looking statements toreflect events or circumstances after the date of this document or toreflect the occurrence of unanticipated events. Accordingly, readersshould not place undue reliance on forward-looking statements.http://hugin.info/90/R/1340603/320396.pdf --- End of Message ---Crew Gold CorporationAbbey House, Wellington Way, Weybridge Surrey United KingdomWKN: 226534105 ; ISIN: CA2265344028; ;
Datum: 10.09.2009 - 08:11 Uhr
Sprache: Deutsch
News-ID 5662
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Business News
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