Queenstake Resources Reports Third Quarter Results.
Business Wire (November 12, 2004)
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Queenstake Resources Reports Third Quarter Results.
DENVER -- Queenstake Resources Ltd. (TSX:QRL) reports its operating and financial results for the third quarter of 2004. Production levels and unit costs continued to improve, but remain somewhat below expectations.
Summary Gold production in the three months ended September 30, 2004 was 73,070 ounces while gold sales totaled 71,210 ounces, leading to revenues of $28.0 million at an average gold price of $402 per ounce. All production is sold at spot price. Production for the quarter was derived from 358,600 tons of ore at an average grade of 0.224 ounces per ton and a process recovery of 91.1%. Cash operating costs were $303 per ounce. The Company reported a net loss of $5.4 million ($0.01 per...Try vLex for FREE for 3 days
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