Crown Resources Narrows Losses

Tue., March 25, 1997

From Staff And Wire Reports

Denver-based Crown Resources Corp. experienced slightly lower losses for 1996 compared with a year earlier after spending less money, the company said Monday.

Crown, which owns half of the Crown Jewel gold mine project in northeastern Washington, lost $1.6 million in 1996 compared with a loss of $1.7 million in 1995.

The company spent about $230,000 less in administrative expenses in 1996, which accounted for the smaller loss. Cost reduction efforts also helped, Crown said. Crown spent more money in 1995 in analyzing a takeover bid from its partner in the Crown Jewel project, Battle Mountain Gold Co.

Crown saw lower revenue from its Kendall mine in Montana, now in reclamation, and from lower interest income. , DataTimes

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Crown Resources Narrows Losses

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