Melbourne, Feb 12, 2009 AEST (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.