Friday October 10, 2:00 am ET MONTEVIDEO, Uruguay--(BUSINESS WIRE)--Uruguay Mineral Exploration Inc. (UME) (TSX VENTURE: ), a South American gold production and exploration company, today reported results for the first fiscal 2009 quarter ended August 31, 2008. David Fowler, Chief Executive Officer commented: “During the quarter we produced 16,439 ounces of gold at an average cash cost of $US 792 per ounce. Production was slightly below our 17,000 ounce expectation as a result of a delay in permitting the new Polvorín pit. While costs were high for the quarter due to additional mining costs and lower production they were in accordance with plan and we continue to forecast annual production of 80,000 ounces for fiscal 2009 at a projected cash cost target of $US 575 per ounce.” Commenting on exploration, Mr. Fowler noted: “Our...
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