With a share in production from the Damang gold mine in Ghana now part of its portfolio,
Damang, in which Repadre now owns an 18.9% interest, produced 70,200 oz. in the quarter at a total cash cost of US$263 per oz. Its larger neighbour, the Tarkwa mine, in which Repadre holds an identical stake, produced 148,800 oz. at US$180 per oz. Both are operated by
Royalty revenue at Repadre increased further in the quarter, to $892,000, as the Vueltas del Rio mine in Honduras, owned by
The company also booked an unrealized $741,000 gain on foreign exchange; its royalty income is mainly in U.S. dollars, which appreciated about 5% against the Canadian dollar in the third quarter.
Repadre’s quarterly results represented a big jump from the corresponding period in 2001, when the company earned $1.6 million on revenue of $3.1 million.
For the first nine months of the year, Repadre is showing a profit of $10.2 million on revenue of $13.9 million. At last year’s quarter-pole, the company had earned $4.4 million on revenue of $7.6 million.
At the end of the quarter, Repadre, which announced its intention to merge with
Three other royalty streams are set to kick in for Repadre. The Magistral mine, owned by
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