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Additional Information
Market: TSX
Sector: General Mining - Gold
EPIC: MFL
Latest Price: C$14.70  (-0.34% Descending)
52-week High: C$18.33
52-week Low: C$9.93
Market Cap: C$1,193.81M
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Minefinders Corporation
www.minefinders.com

Minefinders is a precious metals mining and exploration company. The Company's flagship Dolores Mine in Mexico commenced production of gold and silver in November, 2008 and is expected to produce more than 1.7 million ounces of gold and 64.4 million ounces of silver from heap-leach operations over a 15.5 year mine life. There is potential to increase production from operations by increasing high-grade recoveries with the addition of a mill and by expanding the mine into areas of additional mineralization.

Full Minefinders Corporation profile here
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Minefinders to join S&P/TSX Global Gold Index

18th Mar 2010, 4:08 pm

Mexico focused gold producer, Minefinders Corporation (TSX:MFL, AMEX:MFN) will be added to the S&P/TSX Global Gold Index and Global Mining Index which tracks the leading gold and mining industry participants.


 “We are very pleased to be added to the Global Gold Index and Global Mining Index,” said Mr. Mark Bailey, President and CEO of Minefinders. “This is reflective of our transition from development into commercial production at our Dolores mine in Mexico and is an important milestone in the corporate development of Minefinders as we seek to grow our business and to create greater value for our shareholders.”


The company, which is focused on ramping up production at its flagship Dolores Gold-Silver Mine in Mexico, has a market valuation of approximately CDN$685 million.


Minefinders officially commenced commercial production at Dolores in May 2009, and has since been working on moving the operation up to full utilization. 


As expected, cash costs in 2009 were well above the life of mine projections for the project, nonetheless, the company benefited from the robust gold and silver prices, recording fourth quarter revenues of $27.8 million and net income of $4.3 million, or 7 cents per share.  The company also turned cash flow positive, reporting $4.2 million in positive operating cash flow. 


During the final quarter of 2009, Minefinders sold 25,131 gold equivalent ounces.


Minefinders is expecting to produce between 91,000 and 100,500 ounces of gold and between 2.3 and 2.6 million ounces of silver in 2010.

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