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Lake Shore Gold expects asset writedown in fourth quarter

Gold bars are shown in this file photo.


Lake Shore Gold Corp. says it will be reducing the carrying value of its assets in Mexico and Timmins, Ont., but the amount hasn't yet been determined.

The Toronto-based mining company had a total market value of $266-million as of Friday, when its shares closed at 64 cents on the Toronto Stock Exchange.

The stock dropped a penny after markets re-opened Monday.

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That was just above a 52-week low set on Feb. 20.

The company's stock is worth only about one-third of the high it set a year ago.

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