Gold production of 18,629 oz was reported by Hope Brook Gold (TSE) for the first six months of 1988 from its Newfoundland mining operation. Production at the site was suspended for the winter and did not start up until late March.
Net income for the second quarter amounted to $1.5 million (5 cents per share) on revenue of $6.4 million, and for the first six months was $338,000 (1 cents per share) on revenue of $8.8 million.
Hope Brook began heap leach production during the second half of 1987. The company is developing an underground mine at the site; commencement of production from the mill and underground mine is planned for the last quarter of this year.
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