Argonaut Gold Inc. (TSX:AR) announced that its production, revenue and earnings hit record levels during the second quarter of 2012.
As quoted in the press release:
- Revenue of $37.5 million ($21.6 million in Q2 2011).
- Net income of $11.3 million, $0.12 per basic share.
- Cash flows from operating activities before changes in non-cash operating working capital and other items of $16.4 million ($7.6 million in Q2 2011).
- Cash on hand was $21.4 million at June 30, 2012.
Argonaut’s president and CEO, Pete Dougherty, commented:
Looking forward, we are awaiting permit notifications at La Colorada and are working towards permits for San Antonio. Both permits represent significant milestones for the Company. Operations are running smoothly and we anticipate meeting our full year guidance.