UPDATE: Rusoro Nearing Year Lows As Ends Q3 2011 with Net Loss, Weaker Revenues
Rusoro Mining Ltd. (RML.V) is now steady at 11 cents, touching 20-day SMA but trading just 2 cents above year lows, as it announce today its financial results for the three months ended September 30, 2011.
The company said it ended the quarter with a net loss of $1.7 million, erasing year-ago profit of $6.4 million. Revenues were also weaker during the quarter at $30 million, compared to last year's $$42.7 million, due to a lower amount of ounces of gold sold which more than offset the increase in the realized price of gold.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
Copyright (C) 2016 MTNewswires.com. All rights reserved. Unauthorized reproduction is strictly prohibited.