Barrick’s earnings up more than 50%

American Barrick Resources reports net income of $11.7 million or 34 cents per share on revenue of $83 million for the first nine months of 1987 compared with net income of $11.4 million or 28 cents per share on revenue of $65.3 million for the same period a year earlier. Third quarter earnings were $7.3 million or 13 cents per share on revenue of $32.3 million compared with $4.2 million or 10 cents per share on revenue of $21.4 million.

The company also says 10 drills are working on its Goldstrike property in Nevada. One drill recently completed on the Betze deposit intersected 300 ft averaging 0.31 oz gold per ton.

Gold production to the company’s account amounted to 163,838 oz compared with 140,468 oz for the same period in 1986.

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