November 7, 2011 / 12:23 PM / 7 years ago

UPDATE 1-Yukon-Nevada Gold Q3 loss narrows on warrants gain

Nov 7 (Reuters) - Yukon-Nevada Gold Corp said its quarterly loss narrowed as it gained from warrants.

The company, which recorded an $8.5 million gain in warrants recorded as derivative liabilities, narrowed its third-quarter net loss to $18 million from $103.8 million a year ago.

The company — which owns silver, gold, zinc and copper assets in Canada’s Yukon territory and British Columbia, and in Nevada in the United States — increased quarterly production to 21,296 ounces of gold from 18,636 ounces a year ago.

Yukon sold 18,035 ounces of gold at an average gold price of $1,670 per ounce.

Shares of the company closed at 36.5 Canadian cents on Friday on the Toronto Stock Exchange. (Reporting by Ankur Banerjee in Bangalore; Editing by Don Sebastian)

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