The Colorado-based company reported a net loss of $55,000(US) on revenues of $5.76 million last year compared with a net loss of $1.3 million on revenues of $789,000 in 1987.
The Green Springs open pit mine began production in July of 1988 and produced about 13,000 oz gold by year-end. This year, USMX is projecting that its 100%-owned heap leach operation will turn out about 30,000 oz.
The company spent about $1.7 million on exploration in 1988, with work concentrated on the Winrock/Casino, Ermont and Kinsley Mountain projects, all located in the western United States.
Pegasus Gold Inc. (TSE) holds about a 35% interest in USMX.
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