Despite higher gold production and realized prices for the yellow metal,
By comparison, the company posted a loss of $1.4 million (4 per share) for the second quarter of 2001. Revenue between the two periods grew to $4.2 million from $3.4 million. Operating cash improved to negative $190,000 from negative $874,000.
For the first half of the year, the loss amounted to $1.3 million (3 per share) on revenue of $8.7 million, compared with a year-earlier shortfall of $2.7 million (7 per share) on $6.8 million. Cash flow was $200,000 to the good, a turnaround from the $1.1 million bled in the first half of 2001.
The Sleeping Giant mine in Quebec, co-owned with
The company realized an average of US$302 per oz. for its quarterly production, and US$297 per oz. for the half-year.
The partners are studying the feasibility of deepening the main shaft, and will announce a decision in the fourth quarter.
During the recent quarter, Aurizon wrapped up two private placements for net proceeds of $12.4 million. It then acquired
At the end of June, Aurizon was debt-free and had working capital of more than $7 million.
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