A gold mining company with operations in the La Ronge area is attempting to re-group and rebuild after a disastrous year.
Golden Band Resources ended its fiscal year with a loss of nearly $27 million.
Almost half this loss came in the last quarter which ended April 30.
During this period, the company lost more than $13 million.
Production was lower than expected during much of the year and the low-grade quality of the ore forced a shut down of one of the mine sites.
Production has since re-started but is undergoing a review to determine if it is economically worthwhile continuing operations.
The poor year also resulted in a corporate shake up that saw a complete restructuring of the company’s management, including the installation of Paul Saxton as the new CEO.
In spite of the tough year, the company plans to undertake aggressive drilling in the La Ronge Gold Project with the goal of expanding gold resources that have been identified.