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Marengo Mining Provides MD & A for Quarter Ended 30 September 2009
Friday November 13, 2009, 5:07 pm

Original Announcement: MD and A to 30 September 2009 - TSX

Marengo Mining released its management's discussion and analysis of financial condition and results of operations for the quarter ended September 30, 2009, reporting during the quarter the company incurred exploration expenditures of $2,380,768 (2008: $5,621,223). In accordance with the company's accounting policies, all exploration expenditures other than acquisition and feasibility costs, were written off as incurred resulting in a write off of $2,116,205 (2008: $3,916,105) during the year. This resulted in an operating loss after income tax for the quarter ended September 30, 2009 of $3,863,360 (2008: $4,167,816). The company has a cash balance of $21,374,297 as at September 30, 2009. Highlights of the company's activities for the quarter include: the commencement of diamond drilling at the Kombruku Prospect, 4km from the Yandera Central Porphyry resource; ground geophysical program continued at Kombruku; contract awarded for a regional airborne geophysical survey; DFS focus on further review of comminution circuit options, access road options; and identification of low impurity levels in Cu/Mo concentrate sample from laboratory testwork.

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