Flat revenue coupled with high production and acquisition costs led to a larger net loss for Vancouver's Aurcana Corp. (TSX-V:AUN) for its third quarter ending September 30.
The company reported a slight decline in quarterly revenue to $3.8 million from $4 million in 2007's third quarter.
The company's quarter-to-quarter net loss jumped to $3.7 million from $144,422 due to a 46% increase in its sales cost, a $932,313 foreign exchange loss and $624,000 in corporate finance fees associated with the company's acquisition of the Shafter silver mine from Silver Standard Resources in July.
A drop in resource prices also reduced the company's sales revenue. The average per-pound sale price of copper has fallen 5% to $3.24 from $3.40. Average per-ounce silver prices fell 22% to $14.38 from $18.53; per-pound zinc prices have fallen 45% to $0.82 from $1.49.
Aurcana's share price range during the past week: between $0.09 and $0.10; 52-week high: $0.98; 52-week low: $0.08.