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Friday, 15th May 2009 (4529 views)

Claude Resources has reported a 26 per cent rise in first-quarter gold production compared with a year earlier.

The Canadian company stated that gold yields for the three months increased from 8,423 ounces in the same period of 2008 to 10,613 ounces.

Revenue from gold sales climbed year-on-year over the quarter to March 31st from C$8.1 million (£5.3 million) to C$11.5 million.

Claude Resources milled 54,190 tonnes of ore at its Seabee mine in Saskatchewan at a grade of 6.36 g/t gold over the first three months of the year and sales volume was 10,070 ounces of the precious metal, an increase of 15 per cent over the same quarter of 2008.

"Increased sales volume and improving gold prices continued to result in significant improvements in both revenue and gross operating margin," the firm said.

Based in Saskatoon, Saskatchewan, Claude Resources is a fully-integrated mining business with gold reserves and resources in Canada, including the Seabee mine and the Madsen property in Ontario.

 

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