MSV reports loss in second quarter

With the shutdown of the Eastmain mine behind it, MSV Resources (MSV-M) is striving to return the company to profitability.

The company reported a second quarter loss of $940,138 for the period ended June 30, 1996, compared with earnings of $1.1 million for the same period last year.

Unit operating costs for the first half of this year amounted to $64.52 per ton, compared with $58.62 over the first half of last year. During the latest quarter, MSV processed a total of 187,487 tonnes of ore for a total production of 5.6 million lbs. copper and 16,258 oz. gold.

The company mines copper and gold from two mines near Chibougamau, Que.

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