Galactic Resources reports net income of $1.8 million(US) or 7 cents per share for 1987 compared to a $25.6-million or $1.30-per-share loss a year earlier. The company’s fourth quarter net was $1.4 million as compared to a $14.1-million loss the year before.
Income from the Summitville mine was $7.7 million versus a $6.1-million loss a year earlier. The increased income “reflects higher average prices and gold sales during 1987 of 87,960 oz compared to 51,626 oz in 1986,” says Robert Friedland, chairman.
Be the first to comment on "Galactic earnings"