Three Stopes Being Mined At Pinson

 

GOLDEN, CO - Atna Resources Ltd. reported a net income of $0.8 million, in the First Quarter 2013. The Briggs mine produced $4.7 million in operating cash flow and $2.4 million of income before tax in the First Quarter 2013. Pinson remains in development.

Gold sales for the First Quarter 2013 totaled approximately 8,420 ounces, a decrease of 19 percent relative to Fourth Quarter 2012 principally due to decreased production at Briggs as a result of an increased focus on waste stripping operations.

The Pinson mine sold approximately 8,345 tons of oxide ore in March 2013 containing 1,242 recovered ounces, resulting in a quarter-end receivable of $1.1 million.

In March 2013, Atna entered into an agreement with Veris Gold USA Inc. to process Pinson's ores in 5,000 ton or greater lots, providing an outlet for mixed ore (combinations of oxide and sulfide ore) and allowing Atna to decrease expected invested working capital. Shipment of Pinson sulfide ore commenced in April to the Jerritt Canyon roaster of Veris Gold.

At Pinson, three stopes are currently being mined and five additional stopes are under development. The ramp-up of production is dependent on the number of stopes brought into production. Pinson mined 9,896 tons of ore in First Quarter 2013 compared to 4,187 tons of ore in Fourth Quarter 2012.