Melbourne, Feb 12, 2009 (ABN Newswire) - Beaconsfield Gold NL (ASX:BCD)(PINK:BFGMF) today redeemed in full 12 million convertible notes for $4.08 million. The notes had been issued in February 2007 to partially fund the successful acquisition of a 100% effective economic interest in the Beaconsfield Gold Mine.
The redemption was funded from the excellent positive cash flow now being generated by the Beaconsfield Mine. Gold production in January was strong at 7,699 ounces. The cash cost of production for January was A$643 per ounce and the gold price realised for January deliveries was A$1,331 per ounce.
The Beaconsfield Mine is performing well in February and the outlook for the March quarter remains strong. The mine is forecast to produce in excess of 80,000 ounces for the 2009 financial year.
Beaconsfield Gold NL is an Australia-based company that operates within the gold mining industry. The Company’s principal activity is to produce gold at the Beaconsfield Gold Mine through its participation in the Beaconsfield Mine Joint Venture. The Company, along with its subsidiaries, is engaged in producing to produce gold through its ownership and control of the Beaconsfield Mine Joint Venture (BMJV), which operates the Beaconsfield Gold Mine in north-east Tasmania, and mineral exploration in Australia. Its wholly owned subsidiaries include Beaconsfield Gold Mines Pty Ltd, Beaconsfield Operations Pty Ltd and Beaconsfield Tasmania Pty Ltd.
Beaconsfield Gold NL
