Toronto-based
Exall attributes the loss to low gold prices, lower-than-expected ore grades at its Glimmer mine in Matheson, Ont., and delays in custom milling at the Stock mill of
During the recent quarter, Exall cranked out 10,490 oz. at a cash cost of US$257 per oz., bringing the 9-month total to 36,531 oz. at US$262 per oz. The quarterly output was sold for US$272 per oz., whereas the average for the longer period was US$277 per oz.
At Sept. 30, Exall had a working capital deficit of $2.4 million. The company’s cash position was $539,649.
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