Increased production and a higher realized gold price of US$404 per oz. enabled Viceroy Resource (TSE) to post a 92% increase in net earnings for the 6-month period ended Sept. 30, over results achieved a year earlier.
The company is the operator of the Castle Mountain mine in southern California. The open-pit, heap-leach operation produced 67,707 oz. gold at a cash cost of US$211 per oz. for the period. This compares with the 51,291 oz. gold produced at a cash cost of US$206 during the same period last year. Viceroy reported net earnings of $5.3 million on sales of $26.4 million, compared with $2.7 million on sales of $16.9 million a year earlier.
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