United Keno Hill Mines (TSE), an affiliate company of Falconbridge Ltd reported another loss, this time for the third quarter ended Sept 30. For the period, the silver mining company lost $1.9 million. During the same period last year United Keno lost $445,000.
For the 9-month period, the company lost $6 million or $1.65 per share. The company also recorded operating losses of $2.6 million for the nine month period at its mines in the Yukon. During the same period last year, the mines generated an operating profit of $2.1 million.
The mine losses are being blamed on shortfalls in planned production and increased development costs at two mines being brought into production.
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