During its first year of commercial production, the Mt. Hamilton mine near Ely, Nev., cranked out 30,850 oz. gold and 54,900 oz. silver for owner Rea Gold (TSE).
For the year ended Dec. 31, 1995, the company generated cash flow of $479,221 from revenue of $15.3 million, compared with $236,176 from $1.5 million in the previous year.
Rea lost $2.9 million (or 8 CENTS per share) for the year, compared with a loss of $428,000 (2 CENTS per share) the year before.
The junior gold producer is developing the Bissett mine in eastern Manitoba, with startup scheduled for the first quarter of 1997.
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