Cerro Corona

The solid financial results allowed on september to make a restructuring on the liabilities of the company, with a repayment of the complete loan regarding to initial financing of the Mining Project Cerro Corona, which initially raised to US$ 150 million, and the principal for that moment was US$ 100 million. It was also carried out the payment of the credit from our monitor company and a debt restructuring rising a credit for US$200 million from the peruvian financial system. Cerro Corona obtained the widenation top rate in Mining Security for open pit operations by the Mining Security Institute (ISEM).

During 2009 production was 137,142 Au oz and 37,100 Cu tons at a cash cost of US$ 368 oz.

In the quarter ended Jun30/09, at Cerro Corona, gold produced increased by 18 per cent from 31,800 ounces in the March quarter to 40,500 ounces in the June quarter. Copper produced increased by 16 per cent from 8,000 tons produced in the March quarter to 9,300 tons produced in the June quarter. During the June quarter concentrate with payable content of 39,600 ounces of gold was sold at an average gold price of US$913 per ounce and 9,500 tons of copper were sold at an average copper price of US$3,910 per ton, net of treatment and refining charges.