Fourth quarter income was $12.1 million or 18 cents versus $17.5 million or 27 cents a year earlier. The earnings drop in the quarter was attributed to lower gold prices, the company said.
During 1988, Battle Mountain produced 304,000 oz of gold with 243,000 oz coming from its Battle Mountain, Nev., operation and the remainder from its Pajingo mine in Queensland, Australia. The company expects to produce a total of 330,000 oz from the two operations this year. Aggregate average production costs were about $140 gold equivalent in 1988 and this is expected to drop to $130 this year.
]]>
Be the first to comment on "Battle Mountain earnings climb 25% for the year"