Mine closure means loss for Bachelor

The closure of their mine and mill in Desmaraisville, Que., has hurt Bachelor Lake Gold Mines’ (TSE) 1989 financial results. Producing for only half of the year, Bachelor reported a net loss of $3.4 million (42 cents per share) on revenues of $5.6 million for 1989, compared with a loss of $1.1 million (13 cents per share) in 1988. The loss continued in the first quarter of 1990, adding up to $551,244 (7 cents per share), compared with $975,242 (12 cents per share) in 1989.

Bachelor is maintaining the mill and keeping the mine workings dewatered, hoping to resume production should the price of gold strengthen. $000s except per-share items Year ended Dec. 31 1989 1988 Revenue $5,581 $10,434 Net earnings (loss) (3,414 ) (1,112)

per share (0.42 ) (0.13)004 Bachelor Lake Gold Mines (TSE) $000s except per-share items Quarter ended Mar. 31 1990 1989 Revenue $0 $2,670 Net earnings (loss) (551 ) (975)

per share (0.07 ) (0.12)