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UPDATE: Rusoro Nearing Year Lows As Ends Q3 2011 with Net Loss, Weaker Revenues

Rusoro Mining Ltd. (RML.V) is now steady at 11 cents, touching 20-day SMA but trading just 2 cents above year lows, as it announce today its financial results for the three months ended September 30, 2011.

The company said it ended the quarter with a net loss of $1.7 million, erasing year-ago profit of $6.4 million. Revenues were also weaker during the quarter at $30 million, compared to last year's $$42.7 million, due to a lower amount of ounces of gold sold which more than offset the increase in the realized price of gold.

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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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