Page 33 Contd from pg 32 The Ontario Clean W ater Agency takes the commitment to clean water health and the envir onment as seriously as you do T oday that demands a focus on innovation and new clean water and wastewater tr eatment technologies and services W ith the right team in place trust fows Our expertise includes Energy Management Planning Infrastructur e Renewal Capital Planning and Asset Management and Pr ocess and Plant Optimization For sales enquiries call 18553581488 or visit www ocwacom Follow us on T witter Like us on Facebook A worl d leader in water Naturally Sold 22490 ounces of gold a 22 increase over Q2 2012 Decreased longterm debt by 73 million Revenue of 304 million a 7 in crease over Q2 2012 Further reduced 2013 budgeted cap ital spending by 3 million to 385 million Dawe commented Overall we are pleased with Brigus production and operating results for the second quar ter During the quarter the Brigus team produced 23304 ounces of gold and achieved solid operating results despite a temp orary shutdown of the mill for 20 of the quarter The Black Fox mine and mill are performing well and we look forward to stron ger operating results and lower allin sustaining cash costs in the third and fourth quarters Brigus corporate strategy is based on fve key elements as follows 1 Increasing gold production Brigus has delivered substantial in creases in gold production over the past six quarters Record six month production of 49620 ounces of gold year todate despite the onetime suspension of milling activities in Q2 In July we increased our produc tion guidance for 2013 from 90000 100000 to 95000105000 ounces and we are confdent in our ability to deliv er exce llent results for the re mainder of the year Both our open pit and under ground mines are operating safely and strong l y 2 Reducing our cost structure and lowering production costs per ounce At our Black Fox mine allin sus taining cash costs continue to decline In July we provided guidance that allin sustaining costs will be ap proximately 1100 for the remainder of the year thus providing attractive mar gins in this reduced gold price en vironment In response to lower gold prices we reduced capital spending by 7 mil lion and implemented various cost saving measures including person nel reductions and price concessions from key suppliers W e are doing more with less these cost saving mea sures will not negatively impact gold production levels moving forward in fact we have increased our produc tion guidance as stated Now that we have reached critical mass with under ground mine and infrastructure development capital spending and sustaining capital is forecasted to be between 20 million and 25 million for 2014 a 3548 per cent decrease from our spending lev els for 2013 This reduction will have a major impact on allin sustaining cash costs moving forward resulting Contd on pg 34 Brigus forecasts expanded gold production