Cda Mines Reports Third-Quarter Loss

Mines Corp. this week reported a net loss of $6.3 million, or 29 cents per primary share, for the third quarter of 1997.

After dividends to preferred shareholders, the company had a net loss of $8.9 million attributable to common shareholders, which represents 41 cents per share.

Those figures compare with a net loss of $800,000, or 3 cents per share, for the third quarter of 1996.

Lower precious metals prices contributed to the decline in earnings. Last year, silver prices averaged $5.05 per ounce, with gold averaging $384.65. Average prices in 1997 slipped to $4.53 and $323.65 respectively.

Through September, Coeur reported a net loss of $8.3 million, or 38 cents per share, compared with a net loss of $54.9 million, or $2.57 per share, a year ago.

After dividends to preferred shareholders, the loss attributable to common shareholders was $16.2 million, or 74 cents per share during the first three quarters.

Gold production rose 41 percent to 79,192 ounces in the third quarter, the company said, while silver production increased 21 percent to 2.9 million ounces. , DataTimes