Friday, November 6th, 2009
Claude Resources narrows third quarter loss to $0.4 million from $1.7 million
SASKATOON - Claude Resources Inc. (TSX:CRJ), a small gold miner based in Saskatoon, reports its net loss narrowed in the third quarter to $0.4 million from $1.7 million.
The loss per share fell to zero from two cents a year earlier, the company reported Friday.
Gold revenue from the company's Seabee operation in northern Saskatchewan rose 17 per cent to $12.7 million from $10.9 million in the year-earlier period.
The gold miner said it's planning to expand its gold explorations in hopes of developing new deposits, specifically the prospective Madsen Mine in northwestern Ontario.
"The company is very pleased with the success of the Phase I underground drill program at Madsen," president and CEO Neil McMillan said in a release.
"During the remainder of 2009 we will remain focused on defining the surface targets associated with the Madsen Mine and 8 Zone Trends. Furthermore, the Seabee Operation continues to benefit from a positive gold price environment, increasing production, improved operating margins and success with its exploration program."
