Crown Resources’ Loss Widens Slightly

Wed., Nov. 13, 1996

From Staff And Wire Reports

Denver-based Crown Resources Corp. reported slightly higher losses in the third quarter compared with the same period of last year.

Crown Resources, which is developing the Crown Jewel gold mine near Chesaw, Wash., lost $397,000, or 3 cents a share, compared with a loss of $358,000, also 3 cents a share, in the third quarter of 1995.

Lower royalties and higher exploration costs for Crown contributed to the wider losses, despite expenses for the company dropping by 14 percent from the same quarter last year.

Final permitting of the Crown Jewel mine continues, and the company expects the final environmental impact statement to be issued for the mine in December. Barring major appeals by environmental groups, construction of the open-pit mine will begin in mid-1997, with the first gold coming from the mine in 1998.

Local environmental groups are concerned about how much water the mine will use, among other impacts it may have on the land.

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Crown Resources’ Loss Widens Slightly

Jesse Tinsley

Jim Meehan

Molly Quinn

Rob Curley

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