White Tiger Gold Net Loss Grows 6X to $5.8M; Revenues Nearly Doubles
Revenues almost doubled to $4.8 million during the three months ended June 30 for White Tiger Gold Ltd. (WTG.TO) but the net loss made a nearly six-fold rise over year-ago levels for the mining and exploration firm.
The company, which operates a heap leach gold operation in southeast Siberia, said it remains on target to produce 20,000 oz. of gold this year at the Savkino mine, adding the open-pit operation is now cash flow positive.
White Tiger also said it has identified a large zone of gold mineralization adjacent to Savkino. Net loss for the quarter was $5.8 million, up from a $1 million loss during the April-to-June quarter in 2010.
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