Wednesday, Campbell Resources, Inc. (CCH.TO), a mining company, reported a narrower loss in the second quarter compared to the prior year, benefited by increased production.
Net loss for the second quarter was C$4.1 million, or C$0.01 loss per share, which was narrower than C$4.3 million, or C$0.01 loss per share in the prior year quarter.
Net metal sales for the second quarter was C$9 million, up from C$1.4 million reported in the last-year quarter.
In the second quarter, Campbell operations produced 71,673 tons of ore yielding 1,434 ounces of gold and 1,780,718 pounds of copper, compared to 52,739 tons of ore, yielding 4,921 ounces of gold and 1,044,197 pounds of copper in the second quarter of last year.
For the six-month period, net loss was C$6.2 million, or C$0.01 loss per share wider than C$6.1 million, or C$0.02 loss per share in the comparable prior-year period.
Net metal sales were C$9.7 million for the first-half, up from C$3.1 million last year.
The company said it continues development for extraction of a bulk sample at Corner Bay and is working to improve the efficiency of the Copper Rand mine to achieve positive cash flow by year-end.
Looking forward, the company said it expects revenues for fiscal 2008 to be substantially higher than those realized in 2007.
CCH.TO ended Wednesday trading at C$0.850 on the Toronto Stock Exchange.
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