Edwards mine remains in red

River Gold Mines (RIV-T) reports having produced 12,800 oz. gold from the Edwards gold deposit near Wawa, Ont.

In total, 34,162 tonnes were transported to the company’s nearby Eagle River mill, bringing to 97,125 the number of tonnes milled (43,212 oz. gold) since operations began in 1997. River periodically mines the Edwards deposit for Vencan Gold (VCG-M), splitting operating profits evenly. However, the mine reportedly has lost money since operations began, though the latter company disputes this claim and is seeking payment of $1.5 million through arbitration. The company is also pursuing a ruling on its termination of the lease agreement.