Crown Resources Trims Quarterly Loss
Denver-based Crown Resources Corp. reported slightly lower losses for the second quarter compared with the same period in 1995.
Crown Resources lost $385,000, or three cents a share, compared with a loss of $468,000, or three cents a share, for the second three months of 1995.
The company wrote off about $153,000 worth of properties bought in South America in the second quarter of this year.
Crown Resources owns half of the Crown Jewel gold mine near Chesaw, Wash. The company expects to have the final environmental impact statement for the mine issued in October. If no major delays occur in the permitting of the project, construction will begin on the open-pit mine next spring.
The mine has been controversial because of its potential impact on waterways in the Okanogan region. The Crown Jewel is expected to yield 180,000 ounces of gold each year for Crown Resources and Battle Mountain Gold of Houston.