SYDNEY (Commodity Online): Norseman Gold PLC’s gold production from the Norseman mine in Australia during the fourth quarter to June 2009 rose to 22,013 ounces at a cash operating cost of A$636 per ounce, from 19,902 oz at A$693 in the third quarter, a record for the company since taking over the project in May 2007.

According to a press note, the full year production was 80,753 ounces of gold produced at a cash operating cost of A$715/oz, which was ahead of the forecast of between 75,000 an 80,000oz gold produced at a cash operating cost of between A$720 and A$780/oz.

The full year unaudited EBIT for the Norseman Project is A$23.0 million. Cash balances at the end of the period totalled A$35.3 million.

Norseman Gold Plc operates Australia’s longest continuously running gold mining operation, which has produced over 5.5 million ounces of gold over a period of more than 65 years from the Norseman field in Western Australia.

In addition to the two producing high-grade underground gold mines and lower-grade open pit stockpiles, the company has a portfolio of highly perspective, advanced exploration targets to support continued future production.

The company has a strong management team with extensive experience in the resource, as well as considerable knowledge in corporate and strategic planning, acquisitions and finance.