Callahan losses total $3.3 million

The company reported a loss of $1.89 million or 25 cents per share for the first three quarters of 1988. Revenues were $22 million for the first nine months of 1989, versus $25.3 million a year ago.

The loss for the third quarter was $763,000 on revenues of $7.9 million, compared with a loss of $625,000 on revenues of $8.56 million last year.

Chairman Charles Snead said the extension of losses into the third quarter resulted from lower revenues from the company’s Idaho silver interests, negative results from the Ropes gold mine in Michigan, and higher exploration outlays.

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