Canadian gold producer Agnico-Eagle Mines (AGE-T) reported a net loss of $800,000 for the first quarter ended March 31, down from net income of $1.8 million a year earlier.
The company attributed the loss in the 1997 first quarter to lower gold prices, reduced interest income and lower copper production.
Agnico-Eagle turned out 38,222 oz. gold at a cash cost of US$213 per oz. in the first three months of this year. The company’s mines are situated mainly in northwestern Quebec.
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