Today, Capital Gold announced that it has recognized a 64% increase in net income before taxes for the first fiscal quarter ending October 31, 2008 compared to the same quarter of last year. Net income before taxes increased from $1,747,000 to approximately $2,863,000, while net income after taxes was reported at $1,936,000 compared to last year’s $1,747,000.
To continue expanding production, the company has placed an order for an additional secondary crusher. John Brownlie, the COO of Capital Gold, stated, “The success of all of the upgrades we completed in 2008, including leach pad expansion, additional solution pumps and a new, larger ADR plant, will allow us to consistently produce at current rates. In order to further increase gold production it is necessary to increase the throughput of crushed ore.”
“The most practical approach to achieve this is to add an additional crushing and screening module that have been designed to be installed without disruption to the existing circuit. This will allow us to increase our production of crushed ore from 11,000 tonnes per day to 14,000 tonnes per day,” he added.
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