Earnings Report (December 19, 1988)

Quebec Sturgeon River Mines (TSE) reports a net loss for the 9-month period ended Sept 30 of $540,587 or 5.8 per share compared to $1.3 million or 14.7 p er share for the corresponding period in 1987.

Extraordinary items include the utilization of losses carried forward for income tax purposes, and gain on dilution of interest in a subsidiary corporation.

The mine’s operating income was $125,307 for the 1988 period compared to a loss of $5.4 million for the 1987 period. The company says its consolidated cash position at the end of the 9-month period totalled $27 million.

Morrison Minerals (COATS) of Calgary reports a profit of $763,555 or 11 per share for the 9-months ended Sept 30. Revenue for the period totalled $8 million. This compares to net income of $280,983 on revenue of $3.9 million for the year earlier period.