(1) A reconciliation of this non-GAAP measure to mine cost of sales, the most comparable GAAP measure, can be found below in Non-GAAP Measures. Total cash cost per gold equivalent ounce sold for the combined La Arista underground mine and the El Aguila open pit mine for the for the nine months ended September 30, 2011, can be found in the Non-GAAP Measures in the Form 10-Q for the period ended September 30, 2012.
(2) Mill production represents metal contained in concentrates produced at the mill, which is before payable metal deductions are levied by the buyer of the Company's concentrates. In addition, mill production quantities for the nine months ended September 30, 2012 do not reflect any deduction for 757 gold ounces and 43,435 silver ounces (approximately 1,800 gold equivalent ounces) resulting from the settlement agreement with the buyer of the Company's concentrates as discussed in Note 13 of the Consolidated Financial Statements in the Form 10-Q for the period ended September 30, 2012. Gold equivalent ounces sold for the nine months ended September 30, 2012 have been reduced by approximately 1,800 gold equivalent ounces as a result of the settlement.
Production and Sales Statistics El Aguila Open Pit Mine ------------- Nine Months Ended September 30, ------------- 2011 (1) -------------Production SummaryMilled: Tonnes Milled 46,409 Tonnes Milled per Day 829Grade: Average Gold Grade (g/t) 4.18 Average Silver Grade (g/t) 53Recoveries: Average Gold Recovery (%) 89 Average Silver Recovery (%) 75Mill production (before payable metal deductions) Gold (ozs.) 5,559 Silver (ozs.) 58,309 Payable metal sold Gold (ozs.) 3,917 Silver (ozs.) 43,605Average metal prices realized Gold (oz.) $ 1,383 Silver (oz.) $ 34Gold equivalent ounces produced (mill production) Gold Ounces 5,559 Gold Equivalent Ounces from Silver (2) - ------------- Total Gold Equivalent Ounces 5,559 -------------Gold equivalent ounces sold Gold Ounces 3,917 Gold Equivalent Ounces from Silver (2) - ------------- Total Gold Equivalent Ounces 3,917 -------------
