the facts speak for themselves; yes they have increased costs and some operational issues but the core value is there. Proven and probable reserves were 11.9 million ounces of gold and 509.6 million ounces of silver (1.1 billion tons grading 0.011 opt gold and 0.46 opt silver)
Record production and sales were achieved in 2012. Production from Hycroft in 2012 of 136,930 ounces of gold and 794,097 ounces of silver was 32% and 66% higher than 2011 production results, respectively. Sales of 114,705 ounces of gold and 696,144 ounces of silver surpassed 2011 sales by 30% and 87%, respectively.
The Company produced 136,930 ounces of gold and sold 114,705 ounces of gold at adjusted cash costs(1) of $638 per ounce for the year resulting in record revenues of $214.6 million. Net income increased 30% to $47.7 million or $0.53 per share, compared to $36.7 million or $0.41 per share for fiscal 2011. Last time I checked gold is still near $1600