U.S. REPORT — Cons. Nevada boosts production

Denver-based Consolidated Nevada Goldfields (TSE) increased its production and lowered its costs during the fiscal year ended June 30.

Production from its two gold mines reached 28,132 oz. in 1992, up from 13,968 oz. in 1991. Cash costs dropped to $256 from $287 per oz., while the company realized an average price of $434 per oz.

As a result of the improvements at its Barite Hill mine in South Carolina and Aurora mine in Nevada, Consolidated Nevada’s losses dropped to $1.7 million from $6.5 million in fiscal 1991.

Gold production in fiscal 1993 is expected to reach 36,000 oz.