Sunshine Mining Posts Higher Loss
Sunshine Mining and Refining Co. reported slightly higher net losses, but saw lower production costs and higher production levels during the second quarter, the company said Wednesday.
The Boise-based company, which owns the Sunshine Mine in the Coeur d’Alene Mining District, reported a net loss of $6.6 million for the quarter ending June 30, up from last year’s second-quarter loss of $6.5 million.
Sunshine said production increased at the Sunshine Mine from 658,000 ounces of silver in the second quarter of 1996 to 803,000 ounces of silver in the second quarter this year. This year the company has produced 1.7 million ounces of silver, up 40 percent from last year.
Production costs also fell this quarter to $5.60 per ounce, compared with $6.18 a year ago.