Crown Resources Posts Quarterly Loss
Denver-based Crown Resources Corp. reported a loss for the second quarter.
The company, which owns an interest in the Crown Jewel gold mine in northeastern Washington, lost $468,000. In the second quarter of 1994, the company earned $4.3 million. However, the 1994 totals reflected $8.5 million in settlement payments from Battle Mountain Gold Co. of Houston, the developing partner of the Crown Jewel project.
Higher administrative costs for the quarter came from Crown legal fees to consider a merger offer from Battle Mountain Gold. Crown rejected the offer in May. , DataTimes