Revenues for the 1991 third quarter ended Sept. 30, were down sharply for Princeton Mining (TSE), falling to $12.5 million from $33.6 million in the third quarter of 1990.
The drop is primarily the result of a labor strike at the company’s Similco copper-gold mine in southern British Columbia.
Princeton reports a loss of $7.4 million for the 3-month period, pushing the 9-month loss to $14.7 million. This compares with earnings of $4.5 million for the third quarter of 1990 and $11.2 million for the nine months. Similco production resumed on Oct. 21 with a new collective agreement running to March 31, 1994.
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