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Superior delivers loss despite production beat

CANADA-based Superior Gold, which operates the Plutonic mine in Western Australia, managed to produce a better than expected 16,351 ounces for the March quarter, but despite a gold price of US$1570 per ounce, the company delivered a loss of $1.1 million.

Haydn Black
Plutonic.

Plutonic.

Revenue was $26.5 million, but its cashflow from operations was negative $900,000 after sales of 16,850/oz.   CEO Chris Bradbrook said several one-off unexpected events impacted the quarter, including...

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