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LionGold reports Q2 net loss of S$14.4m
Gold miner LionGold Corp reported a net loss of S$14.4 million for its second quarter ended Sep 30, 2014, versus a loss of S$44.9 million a year ago. It incurred disposal losses, losses recognised from a reduction of its shareholding interest in its Bolivia Amayapampa Gold Project, and impairment losses.
Revenues were down 22.9 per cent to S$18.5 million from S$24 million. This was due to a decrease in gold sales from its wholly-owned producing gold mine Castlemaine Goldfields, primarily due to a decrease in the quantity of gold sold from 14,107 ounces to 11,569 ounces and a decrease in the average selling price of gold from A$1,451 to A$1,386.
The stock closed unchanged at 2.2 cents, before results were released.