Generation Mining Limited (TSX: GENM) has announced financial results for the first quarter of 2023, reporting a narrower net loss amid a sharp fall in operating expenses.
The Canada-based metal mining firm reported a net loss of C$6.17 million or C$0.03 per share for the three months that ended March 2023, which marked an improvement from the year-ago quarter when it reported a loss of C$27.4 million or C$0.16 per share.
The narrower loss reflects a sharp decline in operating expenses to about C$7.33 million in the first quarter. The company said it intends to continue developing the Marathon Project, a large undeveloped palladium-copper deposit in Northwestern Ontario.
