Net earnings of $2.3 million (13 cents per share) on revenue of $32.7 million were reported by Dickenson Mines (TSE) for the first six months of 1990, compared with net income of $6.6 million (40 cents per share) on revenue of $26.6 million. The gold producer turned out 42,000 oz. of the yellow metal at its Red Lake mine in northwestern Ontario during the first half of the year, compared with 37,600 oz. for the same period last year. Production costs averaged US$333 per oz. during the 6-month period. Average millhead grade during the period was 0.34 oz. gold per ton.
During the second quarter, the company recorded net income of $999,000 (6 cents per share) on revenue of $17.1 million, compared with income of $5.2 million (30 cents per share) on revenue of $13.9 million for the same three months in 1989.
An affiliated company, Wharf Resources (TSE), reported net income for the 6-month period of US$3.4 million (17 cents per share) on revenue of US$15 million, compared with income of US$3.7 million (19 cents per share) on revenue of $13.4 million for the same period in 1989.
Wharf produced 39,200 oz. gold during the first half of 1990 from its heap leach mining operation in South Dakota, compared with 34,300 oz. for the same period last year.
For the second quarter, Wharf reported net income of US$2.2 million (11 cents per share) on revenue of US$8.3 million, compared with income of US$2.4 million (13 cents per share) on revenue of $9.1 million.006 0600,0206,0300,0008 Dickenson Mines (TSE) $000s except per-share items 3 months ended June 30 1990 1989 Revenue $17,064 $13,862 Net earnings 999 5,178
per share 0.06 0.30004 Wharf Resources (TSE) $000s except per-share items* 3 months ended June 30 1990 1989 Revenue $8,336 $9,116 Net earnings 2,192 2,440
per share 0.11 0.13 *US dollars004
Be the first to comment on "Dickenson, Wharf boost production"