Go to the Globe and Mail homepage

Jump to main navigationJump to main content

Gold bars
Gold bars

Yukon-Nevada Gold tightens losses as revenue increases Add to ...

Yukon-Nevada Gold Corp. says third-quarter losses were tightened to $18-million (U.S.) as its revenues grew.

The Vancouver-based miner said Monday that losses per share were equal to 2 cents, compared to a deeper loss of $103.7-million, or 16 cents per share a year earlier.

Revenue increased to $30.1-million from $19.5-million.

The company said gold shipments from its Jerritt Canyon mine in Nevada were 21,296 ounces of gold, an increase from 17,202 ounces a year earlier.

Yukon-Nevada Gold noted that mill production levels are still underperforming and its operation faced both scheduled and unscheduled downtime for maintenance issues, which included unplanned power failures.

“Most of the problems were the result of aging equipment and have largely been rectified following the outages,” the company said.

Report Typo/Error

Follow us on Twitter: @GlobeInvestor

Next story




Most popular videos »

More from The Globe and Mail

Most popular