Production of 3,450 oz. gold was reported by Rouyn Mining Resources (TSE) during the first quarter from its Francoeur mine project near Rouyn- Noranda, Que.
Rouyn, the operator, and its 50-50 partner LAC Minerals (TSE) milled 16,492 tons of development ore at the J.G.R. shaft. The recovered grade was 0.21 oz. gold per ton.
For the first quarter, Rouyn reported a net loss of $331,197 (three cents per share) compared with a net loss of $237,088 (two cents per share) for the same period in 1990. The company said gold sales worth $676,669 during the quarter were accounted against deferred expenditures.
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