Mazarin posts modest loss

The building slowdown in Asia has hindered the bottom line of Mazarin Mining (MAZ-T). The diversified minerals producer holds an indirect stake in LAB Chyrsotile, which sells 65% of its Quebec asbestos fibre to Asian markets.

Mazarin’s share of revenue from LAB dropped to $391,000 in the quarter ended Dec. 31 from $696,000 in the previous 3-month period. On a brighter note, revenue from other industrial minerals operations, namely dolomite and aluminum silicate, increased to $1.2 million for the quarter, compared with $800,000 in the previous quarter.

Mazarin posted a net loss of $776,000 for the quarter ended Dec. 31. The company’s loss for the first nine months of its current fiscal year was $2.8 million, compared with $5.4 million for the corresponding period a year earlier.