Eastmaque Gold records net profit

At the end of the period the company had $2.8 million in cash and short-term deposits, compared with $2.0 million at the same time last year.

Eastmaque operates the Cargo Muchacho open pit mine in California which mined 160,000 tons of ore grading 0.032 oz gold per ton during the third quarter. The grade and the 4.5:1 waste to ore strip ratio where both lower than the average during the first six months of the period. Production cost for the 9-month period were, therefore, greater than expected at $242(US) per oz. Production at the nearby American Girl Canyon open pit is expected in Sept.

At Kirkland Lake, Ont., Eastmaque operates a tailings recovery project.

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