A gold mining company with operations in northern Saskatchewan says it’s in the process of an extensive review of its operations.
This after Golden Band Resources posted a $5.3-million loss for the three-month period ending April 30th.
Golden Band spokesman Marc Thiel says challenging operational issues affected both production at the Roy Lloyd mine and ore haulage to the Jolu mill.
“We had some issues with some of our contractors — equipment availability was an issue. We’ve taken steps with the contractors to deal with those. Mine productivity was an issue — again, with our mine contractors, we’ve taken steps to deal with those.”
The firm is now trying to identify inefficiencies and redundancies in its operations in the La Ronge gold belt.
Thiel says Golden Band has already decided to change the way they mine ore to the shrinkage stoping method — which Thiel says involves taking a lot less host rock, thereby reducing operational costs.
The company’s Komis mine remains on track to come into production in early September.