Golden Band Records Loss of Millions

Golden Band Records Loss of Millions

Tuesday, August 30, 2011 at 15:07

Golden Band Resources has released its financial numbers for the fiscal year.

In a release, the company says it recorded a net loss for the year ending April 30th of $6.27 million.

That compares to $2.37 million the year before.

Mark Thiel is the vice-president of finance for Golden Band.

He says much of the loss was due to the cost of construction and commissioning of a new mine.

Golden Band began commercial production on April 1st of this year.