Golden Band Resources Slides After Posting $6.3M Net Loss; Production Seen at 45K Oz.
Golden Band Resources (GBN.V) was edging lower at 38 cents a share after reporting $4.2 million during its first month of operations, producing and selling 2,945 ounces of gold in April at an average realized price of $1,428 per ounce. The company's fiscal year ended April 30.
Net loss for the period was $6.27 million, up from a $2.37 million loss in the year-ago period. Golden Band expects to produce 45,000 ounces during the current fiscal year, with 10,932 ounces produced between May 1 to July 31.
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