Brenda improves profit (November 16, 1987)

Stronger copper and molybdenum prices were cited as the reason behind improved earnings at Brenda Mines. The company, which operates a large copper-moly mine in British Columbia, realized net earnings of $1.6 million or 33 cents per share for the third quarter ended Sept 30. An extraordinary tax gain brought the final result to $2.9 million or 60 cents per share. This compares with a loss of $2.8 million or 61 cents per share in the corresponding quarter of 1986.

For the period, Brenda milled 2.28 million tons of ore to produce 4,062 tons of copper and 983 tons of molybdenum in concentrate. Brenda also produced 25,231 bbls of oil during the period, mainly from wells in the Timor Sea.