Placer's record

摘要

Vancouver-based Placer Dome has reported a record beneficial gold production of 535,272 oz for the quarter to end-September (408,000 oz previously), bringing its nine month output to 1.36 Moz - 5 percent higher than in the equivalent period of 1994. As a result of this improvement, and reduced operating costs, third quarter net earnings rose to 24 million US dollars, compared with 18 million dollars in 1994. The year to date figure of 36 million dollars, however, was less than half of the 79 million dollars recorded at the equivalent stage of 1994. This shortfall is attributed to increased exploration expenditure and a 17 million dollars write-off of a non-core investment. Placer Dome's third quarter average cash production cost of 201 dollars/oz continues the downward trend of the second quarter now that certain mine operating problems have been overcome, ore grades have improved and new production from the Dome mine in Canada has come on stream. However, costs are still, above the 196 dollars/oz achieved in the third quarter of 1994.