Miramar Mining Corp. (TSX:MAE) cut its net loss to $2 million in fiscal 2006 from $11 million in 2005.
The Vancouver-based gold producer closed out 2006 with consolidated working capital of $143.7 million.
Miramar is exploring its Hope Bay project, which extends more than 1,000 kilometres along Nunavut's Arctic coast. The 2007 work program at Hope Bay includes 72,000 metres of drilling to be completed during the year at a cost of $31 million.
Miramar anticipates that the first drill results will be available by the end of April.
Miramar share price range during the past week: between $5.22 and $5.60; 52-week high: $6.12; 52-week low: $3.20.