High zinc contributed to the increase and the company reports that production targets were met with satisfactory recoveries and grades. Production of lead, silver and acid dropped, however, because of poor quality coke at its smelter.
A 10-fold increase in revenue in 1988 is reported by Canyon Resources (NASDAQ) of Colorado, but the mining company still lost money.
Total revenue was nearly $3 million(US) last year, but much of that was spent upgrading facilities at the Kendall gold mine in Montana giving a net loss of $371,162 or 5 cents per share. Net income in 1987 was $939,588 or 16 cents per share and total revenue was $214,339.
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