Gammon Gold Inc. (GRS) Reports Decline in Gold and Silver Production
Gammon Gold Inc. reported production of 28,341 ounces of gold and 1,284,071 ounces of silver in the first quarter of 2010. Gold equivalent production company wide was 48,061 ounces using a ratio of 55 to 1 to convert the silver production. Production was down on a year over year basis. In the first quarter of 2009, the company’s mines produced 36,820 ounces of gold, and 1,351,300 ounces of silver, for gold equivalent production of 55,480. Gammon Gold Inc. also said that its cash cost per gold equivalent ounce is expected to be in a range from $488-498, up from $411…