For the first time in its history, Golden Band Resources is making money at its operations north of La Ronge.

The company reports profits of $4.5 million in the quarter ending October 31st.

Company chief financial officer Mark Thiel says production is going as planned at the Roy Lloyd Mine and Jolu Mill.

He says production is around 4,000 ounces a month, and gold is selling for about $1,700 per ounce.

Golden Band is hoping to start production at its Komis deposit in 2012.

Thiel says Komis is a unique deposit in Canada, as parts of the deposit are “very high grade”.

He adds the company is looking at developing several other deposits in the Round Lake area.