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EL SAUZAL

El Sauzal is a conventional open pit, oxide milling operation which achieved commercial production in December 2004.  Construction of a heap leach pad was initiated during 2006.  Exploration and testing is ongoing in area surrounding the El Sauzal deposit and shows strong potential for increasing reserves.

Gold production in 2007 was 306,900 ounces. 

OPERATING STATISTICS

El Sauzal
(100%)
2005
(actual)
2006
(actual)

2007
(actual)

Ore mined tonnes(000's) 2,141 2,633

2,693

Ore Milled tonnes(000's) 1,668 2,107

2,165

Grade Au g/t 3.87 4.7

4.65

Total Recovery Au % 92 94

94

Total Production Au oz 191,600 299,600

306,900

Total Cash Costs US$/oz 137 103