Canyon losses widen to US$2.5mn

Colorado's Canyon Resources Company (Amex: CAU) posted a US$2.5mn loss (US$0.11 per share) in the third quarter on US$3.2mn in revenue, compared to a US$0.1mn net loss (US$0.01 per share) on US$4.9mn in revenues in the same period last year. For the first nine months of the year, the company recorded a US$7.3mn net loss (US$0.34 per share) on US$10.5mn in revenues, up from a US$4.3mn loss (US$0.23 per share) on US$11.8mn revenues same-period year before. In Latin America, the company operates in Argentina, Chile and Mexico (see related article).