Rusoro Exports First Gold Shipment
22 Novembre 2010 - 2:00PM
Marketwired
Rusoro Mining Ltd. (TSX VENTURE: RML) ("Rusoro" or "the Company")
is pleased to report that the Company's first offshore gold sale
has been completed. The Company delivered 4,924.2 ounces of gold to
Switzerland for its gold buyer on November 17, 2010 at a spot gold
sale price of US$ 1342.5 per ounce less associated costs and
commissions. Rusoro's first gold export in accordance with the
Central Bank of Venezuela ("CBV") permit which became effective on
November 1, 2010, authorized the sale of approximately 50% of the
gold produced from the Choco 10 and Isidora mines from August 11,
2010 through September 30, 2010.
Rusoro President and CEO Andre Agapov comments, "This marks the
first authorized and executed gold sale from Venezuela under the
new CBV export rules and the first gold export for Rusoro ever. We
are very pleased to have been able to work through the process with
the CBV and reach this significant milestone for the Company."
The Company expects to have 20,000 ounces of finished gold for
October and November production from the Choco 10 and Isidora
mines. Rusoro will begin the audit and permitting process
immediately with the CBV to authorize the sale of up to 50% of this
gold production for a subsequent off-shore gold sale in December
2010.
ON BEHALF OF THE BOARD
Andre Agapov, President & CEO
Forward-looking statements: This document contains statements
about expected or anticipated future events and financial results
that are forward-looking in nature and as a result, are subject to
certain risks and uncertainties, such as general economic, market
and business conditions, the regulatory process and actions,
technical issues, new legislation, competitive and general economic
factors and conditions, the uncertainties resulting from potential
delays or changes in plans, the occurrence of unexpected events,
and the Company's capability to execute and implement its future
plans. Actual results may differ materially from those projected by
management. For such statements, we claim the safe harbour for
forward-looking statements within the meaning of the Private
Securities Legislation Reform Act of 1995.
Neither TSX Venture Exchange nor its Regulation Services
Provider (as that term is defined in policies of the TSX Venture
Exchange) accepts responsibility for the adequacy or accuracy of
this release.
Contacts: Rusoro Mining Limited 604-632-4044 or Toll Free:
1-800-668-0091 604-632-4045 (FAX) info@rusoro.com
www.rusoro.com
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