Excellon Resources Inc., a Canada-based silver producer, said Monday it cut its third-quarter loss in half as revenue jumped and prices rose.
Net income for the three months ended in September was a $976,000 loss compared $2,012 million in the year-earlier period.
The recent loss reflected $3.4 million of unrealized foreign exchange losses attributable to the impact of a strengthening U.S. dollar experienced during late September, Excellon said in a statement.
Revenue rose to $11.2 million from $6.1 million.
Cash costs per ounce of silver produced fell to $6.95 from $14.75 per ounce in last year's third quarter.