Thursday, 28th October 2004 (3056 views)

Canadian mining firm Placer Dome has released its third quarter results today, reporting earnings of $148 million and gold production of 888,000 ounces.

Additional results showed cash from operations reached $91 million during the three months ending September 30.

President and CEO Peter Tomsett commented: "This quarter proves again that we own a quality portfolio of assets capable of generating significant value for shareholders.

"Our performance during the first nine months puts us on track to meet our 2004 targets for production and costs."

The company has also commenced a feasability study on the Cortez Hills site and is on its way to reaching key decisions on important development projects for 2005.

A more positive operational outlook has also been achieved for gold mining in Australia.

 

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