Earnings reached $12.4 million or 38 cents per share on revenues of $69 million compared with earnings of $6.2 million or 19 cents per share for the corresponding period a year earlier.
As of Sept 30, the company had sold forward 2.6 million oz of silver at an average price of $7.77(US) and 36,000 oz of gold at prices averaging $472(US) per oz.
The company agreed to provide security of $10 million in the fourth quarter and $6 million in 1990 to cover post-closure reclamation costs. Negotiations are continuing with the government of British Columbia regarding the total amount of security required.
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