Crown Resources Posts $472,000 Loss

Crown Resources reported a net loss of $472,000, or 3 cents per share Wednesday, for the first quarter of 1998. That compares with first-quarter losses of $409,000, also 3 cents per share, last year.

Denver-based Crown Resources is a partner with Battle Mountain Gold Co. in a proposed open-pit gold mine in northern Okanogan County.

Revenues were lower this year due to reduction in royalty income from the Kettle River Mine near Republic, Wash., company officials said. Administrative expenses were also lower in the current quarter as a result of lower exploration activity.

Crown Resources also spent $461,000 during the quarter for mineral property additions, mostly related to South American exploration activities.