Millions of dollars worth of gold was stolen Wednesday morning at a Brazilian mine owned by Vancouver-based mining junior Luna Gold Corp. (TSX-V:LGC).
About 1,500 ounces of gold was stolen by armed robbers from the Aurizona gold mine located in Maranhao state in northeastern Brazil.
Roughly 500 employees work at the mine, but none of the staff were injured during the robbery. The company said it would be providing support and counseling for any employees who need it.
“Theft in this manner is disturbing and regrettable,” said Luna Gold president John Blake in a statement. “The company is cooperating with authorities and will update the market when information becomes available.”
The amount of gold stolen was fairly significant for the company that only started producing in the second quarter of 2010. So far this year, the company has produced nearly 6,000 ounces of gold, nearly 80% in the third quarter ending September 30, 2010.
In the nine months ending September 30, the company generated gold sales revenue of US$2.5 million, two thirds of which was generated in its third quarter.
Based on Wednesday’s closing price of US$1,413.50 per ounce, the amount of gold stolen was worth more than $2.1 million.
Despite the loss, the company said it has insurance to cover this type of loss and was in the process of filing a claim.
Luna Gold’s share price range during the past week: between $0.75 and $0.78; 52-week high: $0.87; 52-week low: $0.49.