With decreased gold production from its Ivory Coast operations, Toronto-based Eden Roc Mineral (EDN-T) suffered a loss of $3.7 million for the 9-month period ended Sept. 30, 1996. For the same period in 1995, the company posted a profit of $363,000.
Total revenue was $7.1 million, compared with $11.3 million for the first nine months of the previous year, while the amount of gold poured was 13,439 oz., compared with 19,911 oz.
Daily throughput averaged 1,409 tonnes at a cost of US$11.10 per tonne, compared with 1,391 tonnes at US$12.27 in the 1995 period. The average gold grade was 1.9 grams, compared with 2.23 grams.
The loss is attributed to low oxide ore grades, agglomeration problems and heavy rainfall during the period.
An $8.3-million program of exploration and development is under way on the Ivorian properties in an attempt to boost oxide resources and outline 3-4 million oz. of near-surface sulphide resources.
Drills are turning on the Aniuri sulphide deposit, core from which is being shipped to Australia for testing.
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