A new lactone synthesis was developed using the Fischer chromium carbene complex. The lactone was formed from an alkyne bearing a hydroxyl or silyloxyl group in a tether, along with carbene carbon and carbon monoxide of the chromium carbene complex. Using this procedure, (+)-blastmycinone and (+)-antimycinone were synthesized from (S)-ethyl lactate in short steps. Copyright (C) 1996 Elsevier Science Ltd