La Mancha Resources Hikes Efficiency, Gets Record 3Q

La Mancha Resources Inc. posted a record third quarter on a big jump in gold prices and more efficient operations, the Canadian gold miner said Tuesday.

Net income soared to $13.2 million (Canadian), or nine cents per share, from $4.9 million, or four cents per share, in the year-earlier period.

Revenue jumped to $52.15 million from $32.32 million, said the Montreal-based company.

Gold production was virtually unchanged at 27,330 ounces, but La Mancha's cash margin rose 99 percent.

Even if the financial performance of the entire gold mining industry is being buoyed by current gold prices, there aren't many producers who can claim that their improved margins are also the result of good cost management, CEO Dominique Delorme said in a statement.

La Mancha operates two gold mines in Africa and two in Australia. It also is active in Argentina.