CAPITAL MARKETS

Placer blames gold price for profit fall

CANADA'S Placer Dome says it is pleased with its first quarter earnings of US$16 million, down from US$35 million in the same period last year, given the continuing fall in the gold price.

Greg Tubby

"Despite a further 9% reduction in the gold price since the first quarter of 2000, we have maintained strong mine operating earnings and cash flow from operations," president and chief executive Jay Taylor...

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