Ounces up at Dickenson’s Red Lake Mine

Toronto-based Dickenson Mines (TSE) has reported increased gold production from its Red Lake mine during the third quarter.

Gold production at the Arthur White Mine for the first nine months of this year totalled 48,200 oz, of which Dickenson’s share was 37,900 oz. Comparable production from the same period last year was 47,300 oz, of which Dickenson’s share was 30,700 oz.

Emphasis on reduced mining dilution, better grade control and higher productivity attained by the mine’s labor force all contributed to the improved third-quarter performance, the company says.

Net earnings for the 9-months ended Sept 30 were $3.2 million or 23 per share compared to $4.9 million or 34 per share a year earlier. Net revenues from operations were $31.4 million compared to $32.1 million in 1987.

The company says satisfactory results were also attained at its Silvana Division, Havelock Lime Works and Wharf mine.