LionGold posts lower Q2 loss of S$14.4m

Singapore

GOLD miner LionGold Corp reported a net loss of S$14.4 million for its second quarter ended Sept 30, 2014, versus a loss of S$44.9 million a year ago. It incurred disposal losses, loss 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.