Prime Resources Group’s (TSE) share of gold production from the Snip mine increased 7% over the first nine months of the year, compared with the same period in 1992.
Prime has a 40% interest in the underground mine, situated in northwestern British Columbia. It is operated by 60%-owner Cominco (TSE). Prime’s share of production was 46,887 oz. for the nine months, with the increase attributed to higher-than-expected ore grades and increased throughput at the mill. The increase in production caused cash costs to decline by 8%, to US$142 per oz.
The company reports net income of $6.3 million, or 14 cents per share, for the period, compared with a loss of $22 million for the corresponding period last year.
Prime also has a half interest in the Eskay Creek gold project, also in northwestern B.C., which is being advanced to production.
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