Higher output was reported by Cambior (TSE) for the third quarter of 1991 but net earnings decreased. The gold producer attributed the earnings dip to a large drop in the net selling price for gold during the quarter and since the beginning of the year.
Production during the 3-month period ended Sept. 30 amounted to 89,459 oz. compared with 63,523 oz. for the same period last year. For the first nine months of 1991, Cambior turned out 232,979 oz. compared with 171,242 oz. last year.
Cambior is forecasting total output of about 320,000 oz. for 1991. Net earnings during the third quarter were $3.2 million (10 per share) compared with $6.9 million (23 per share) for the same period last year.
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