More than 100 people in the La Ronge area are without work this holiday season because operations at the Golden Heart and Roy Lloyd (Bingo) gold mines, as well as the Jolu Mill has been suspended indefinitely.

The company behind the mines, Golden Band Resources, says lower gold prices and poorer quality ore are behind the decision to suspend operations.

In addition to the immediate loss of workers, company CEO Paul Saxton said many of the remaining 120 members of the workforce will likely also be out of work.

"It comes across harsh obviously especially to the people that are effected directly," Saxton told CBC News Monday. "But if we didn't do it now, then the hope and the future to come back is diminished, and it could disappear all together."

Saxton said operations are winding down, starting next month.    

The sites will be maintained in the hopes that conditions improve, and some engineering and geological work will continue.