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Claude Resources Q1 earnings up 17% YOY

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Claude Resources Q1 earnings up 17% YOY

Claude ResourcesInc. said May 5 that its first-quarter net earnings increased 17% yearover year to C$6.0 million, or 3 Canadian cents per share.

Adjusted net earnings also surged 78% year over year to C$9.1million.

Revenue for the period jumped 30% on a yearly basis to C$34 million,driven by a 21% increase in gold sales volume and a 7% increase in realized Canadiandollar gold prices.

The company produced 20,672 ounces of gold, the second-highestquarterly production in its history.

Meanwhile, all-in sustaining cost per ounce of gold sold camein at C$1,328, representing a 3% decrease on a yearly basis.

The company maintained its previously outlined 2016 of 65,000 ouncesto 72,000 ounces of gold.