08:39 AM EDT, 05/17/2018 (MT Newswires) -- Harte Gold (HRT.TO) said late Wednesday it swung to a loss in the first-quarter on higher expenses and stock-based compensation as it advances plans to mine its Sugar Hill gold deposit in Ontario.
The company said it lost $3.56 million, or $0.006 per share, compared with a profit of $3.93 million, or $0.009, in the first quarter of 2017.
The loss as stock-based compensation rose to $4.27 million from $149,445 in the year-prior period, while office and general expenses tripled to $257,765 as it boosted staffing at its head office.
The company said it expects to have all needed mining permits in hand by the end of June and expects to begin commercial operations at the mine by year end.
Price: 0.415, Change: +0.015, Percent Change: +3.75