Northern Gold Mine Producing Higher Revenues

Northern Gold Mine Producing Higher Revenues

Wednesday, March 31, 2010 at 13:57

Claude Resources posted a loss of $6.3 million last year, but an increase in revenue from its Seabee mine.

Gold revenue from the mine increased by 18 per cent from $41 million in 2008 to $48.5 million in 2009.

The company says this is due to a 20 per cent increase in Canadian gold prices.

Claude Resources expects gold production at Seabee to go up slightly this year, while overall operating costs are expected to be similar to 2009.