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Placer Dome posts $211-million loss

Placer Dome has posted a $211-million loss for the third quarter. The gold-mining company, which owns the Dome gold mine in South Porcupine, as well as numerous properties around the world, has written off its Getchell mine in Nevada as unprofitable.
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Placer Dome has posted a $211-million loss for the third quarter. The gold-mining company, which owns the Dome gold mine in South Porcupine, as well as numerous properties around the world, has written off its Getchell mine in Nevada as unprofitable. The company will sell Getchell's stockpiled ore to Newmont Mining, officials with Placer Dome say.

Total loss for the third quarter is equivalent to 65 cents a share, in comparison with a profit of 15 cents a share the previous year. The company produced 658,000 ounces of gold this year, in comparison to 723,000 ounces of gold in the year-earlier period.



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