The Coniagas group of six companies has reported results for the 6-m onth period ended June 30 with three of the four operating companies reporting losses for the period.
The group includes Coniagas Mines, Quebec Sturgeon River Mines, St Andrew Goldfields, Anglo Dominion Gold Exploration, Bachelor Lake Gold Mines and Phoenix Gold Mines. All but St Andrew and Phoenix report operating results.
Coniagas Mines reports a loss of $97,923 for the period compared to a profit of $442,766 for the same period in 1985. The 1986 figures include an extraordinary item, the gain of $160,000 from the sale of a property previously written off.
Coniagas is associated with Anglo Dominion and Sturgeon River. Bachelor Lake, St Andrew and Phoenix are principal subsidiaries of Sturgeon River.
Anglo Dominion reports bullion revenue for the period of $324,339 for a mine operating loss of $175,749 and a net loss of $257,515.
Sturgeon River, including its principal subsidiaries, reports a net loss for the 6-month period of $571,277 compared to a loss of $1,163,476 for the same period a year earlier.
Bachelor Lake reports bullion revenue of $5,072,630 for cash mine operating profit of $1,465,986 and net income of $12,700.
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