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Gold/Mining/Energy : DISCOVERY BOARD ~ PRECIOUS METALS ENERGY URANIUM OIL

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From: PaperPerson	5/15/2012 4:59:37 PM
	of 4690

Claude Resources Posts Loss on Higher Costs May 14 (Reuters) - Gold miner Claude Resources Inc posted a first-quarter loss as operating costs increased. The company had a net loss of about C$500,000 in the quarter compared with a net profit of C$1.8 million, or 1 Canadian cent per share, a year earlier. Claude's gold revenue, from the its Seabee Gold operation in Saskatchewan, rose 21 percent to C$16.1 million, or C$1,681 per ounce. The strong gold price was offset by increased mine operating costs and resulted in lower operating margins, Claude said in a statement. Cash cost rose 34 percent to C$1,236 per ounce, lowering the net cash margin per ounce to C$445 per ounce in the quarter from C$484 a year earlier.

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