Goldgroup Reports 39% Rise in Q1Gold Production

19 May 2010 (Last Updated May 19th, 2010 18:30)

Goldgroup Mining's gold production for the first quarter of 2010 is up by 39% to 6,382oz. Goldgroup re-iterated its full-year production outlook and expects to produce 25,000oz of gold to 30,000oz of gold. The company recorded a 16% increase in profit for the first quarter of 20

Goldgroup Mining's gold production for the first quarter of 2010 is up by 39% to 6,382oz.

Goldgroup re-iterated its full-year production outlook and expects to produce 25,000oz of gold to 30,000oz of gold.

The company recorded a 16% increase in profit for the first quarter of 2010 on higher gold production.

The company posted a net income of $708,821 for the quarter compared to $611,837 a year earlier.