Claude Resources Sees Huge Profit Increase

Claude Resources Sees Huge Profit Increase

Thursday, August 11, 2011 at 14:13

Profits made a huge jump at Claude Resources, as its net profit increased by 136 per cent in its second quarter.

The company released the second quarter results today, where the net profit is $5.2 million versus $2.2 million at the same time last year.

CEO Neil McMillan says that kind of profit makes it easier for the company to move ahead on the shaft extension and mill expansion as well as exploration projects.

Overall profits for the first half of this year is $7 million, whereas last year at the same time it was $0.6 million.