Veris Gold Corp. announced audited financial and operating results for the fourth quarter and year ended December 31, 2013. The company reported net loss of $47.8 million, representing a $34.9 million net loss increase from the $12.9 million net loss recorded in the fourth quarter of 2012. The Company realized gold sales of $40.6 million on the sale of approximately 31,550 ounces of gold compared with $51.8 million on sales of approximately 32,190 ounces of gold sold in fourth quarter of 2012.

The company reported production of 33,533 payable ounces for the fourth quarter of 2013, comparable to 31,754 ounces in 2012, but below target due to the mill shutdown in December 2013.

The company reported a net loss of $66.7 million, representing a $46.7 million increase from the $20.0 million net loss recorded in 2012. For the year ended December 31, 2013, the company realized gold sales of $187.9 million on the sale of approximately 140,680 ounces of gold compared with $160.6 million on sales of 100,834 ounces of gold sold in 2012. The increase in gold ounces sold was largely driven by additional production from the Starvation Canyon mine opened in second quarter of 2013. The increase in sales volume was offset by lower gold prices in 2013, with the average gold price per ounce sold of $1,397, 16% less than the average $1,665 per ounce sold in 2012. The increased loss primarily arose from increase in interest expense, decrease in revenue less cost of sales; increase in environmental expense for an environmental provision, depreciation and depletion expense, decrease in non-cash derivative gains, general and administrative expense and increase in non-cash impairment charge on the Company's Ketza River property.

The company reported production of 139,556 payable ounces in 2013, representing a 32% increase from the 105,626 ounces produced in 2012.