A massive prairie-based farm operation has reduced its first quarter losses from last year.
Toronto-based investment company Sprott Resources recently reported a net first quarter loss of $3.2 million for One Earth Farms, a crop and cattle operation that leases First Nation land.
The loss is down from $3.8 million for the same period in 2011.
One Earth Farms also reports it reduced the size of its livestock operations, “mainly as a result of sales,” to 11,414 through the end of March, down from 13,703 at the end of 2011.
The company continues to expand its cropping operations, with the company planning to farm 94,000 acres this year. That’s up from 2011, but below a projection of 100,000 acres made in January.
In a mid-May statement, One Earth Farms chief executive officer Steve Yuzpe, said the company had already completed seeding on 34,000 acres in southern Alberta.
Company officials previously stated that 25 percent of the company’s operations are in northeastern Alberta, 15 percent in northeastern Saskatchewan and 20 percent in eastern Saskatchewan.
The remaining 40 percent is in southern Alberta, where a good portion is under irrigation.
