A half interest in the Aurora Partnership gold mine enabled Electra Mining Consolidated (VSE) to earn $382,462 (14 cents per share) in the first quarter. This compares with a loss of $42,416 for the same period last year.
Situated in Nevada, the mine produced 7,045 oz. at an operating cash cost of US$265 per oz. during the period. About 102,000 tons averaging 0.119 oz. gold per ton were mined (including stockpiled material) at a stripping ratio of 4.7 tons of waste per ton of ore.
In recent months, Electra staked additional areas along the gold belt that extends from the Borealis mine in the east through Aurora to the Bodie camp in the west. The company says the staking reflects its long-term plan of developing further operations in the district.
Be the first to comment on "LAST BUT NOT LEAST — Electra boosts earnings"