The Severstal-controlled Canadian precious metals producer High River Gold registered a profit of C$ 25.8 (USD 25.5) million for the third quarter of 2010. The company’s net profit in the second quarter of the year was C$ 29.3 million, while its net loss in the third quarter of last year totaled C$ 4.6 million.

The company’s total revenues went down to C$ 100.8 million (USD 99.6 million) in the third quarter in relation to the company’s performance statistics for the previous three months. Second quarter results were C$ 113.8 million. Still, compared to the results for the third quarter of 2009, High River’s current figures showed a 13-percent year-on-year growth.     

While gold production increased 10 percent on a quarter-on-quarter basis, reaching 77 427 ounces, it declined 8.9 percent year-on-year. Last year’s third quarter production stood at 84 990 ounces.

The company’s total cash and production costs per one ounce of gold amounted to C$ 603 (USD 596), up from C$ 554 in the second quarter of 2010 and C$ 518 in the third quarter of 2009.