The new company will have 2011 forecast production of 172,000 ounces from two mines, including the Youga gold mine in Burkina Faso and Adamus' Nzema property in Ghana, which achieved commercial production in April, at a cash cost of between US$575 to $625 per ounce.

Revett Minerals (NYSE MKT:RVM) (TSE:RVM)  plunged almost 25 per cent on Thursday after the company said it must slash its workforce at its Troy mine amid some unexpected structural damage found as part of its underground development work. 

Sunridge Gold Corp. (CVE:SGC) has added more good news to an already auspicious month with the completion of a mineral resource estimate for the Kodadu target on the company’s Asmara project in Eritrea, the sixth such mineral resource defined by the Vancouver-based exploration and development company on the property.

The new DFS for Aureus's New Liberty gold mine in Liberia has increased the net present value of the asset, and points to lower operating costs and improved proven plus probable reserves.

Amid declining gold prices, several miners are struggling to keep costs down, but Sacre-Coeur Minerals (CVE:SCM) (OTC:SCRMF) is not one of them. The company boasts all-in cash production costs of less than $500 an ounce at its alluvial/elluvial operations in Guyana. 

Sunridge Gold Corp. (CVE:SGC)(OTCQX:SGCNF) has done exactly what it set out to do last year in releasing a feasibility study for its Asmara project in Eritrea that minimizes the capital exposure in a challenging time for Canadian juniors, with the company now having a plan to start initial production almost one year earlier than the preliminary report.