Shareholders of gold producer Malartic Hygrade Gold Mines (Canada) (VSE) recently voted in favor of a corporate name change to Republic Goldfields Inc.
The company, with producing properties near Val d’Or, Que., and in Arizona, reported first-quarter gold output of 8,676 oz. compared with 1,591 oz. for the same period last year. The cash operating cost during the quarter, it said, averaged US$267 per oz. compared with US$292 last year.
Net income during the quarter amounted to $164,000 on revenue of $3.9 million, compared to a loss of $361,000 on revenue of $827,000 for the same 3-month period in 1990.
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