Brenda’s cash at $100 million

Earnings for former copper producer Brenda Mines (TSE) reached $1.5 million during the second quarter ended June 30.

With over $100 million in cash and no significant operations, the company’s revenue is primarily generated by interest payments.

Brenda does have a small interest in an oilfield off the coast of Australia which produced an operating loss of $29,000 for the quarter. Earnings for the first six months of 1991 were $3.1 million, or about 63 cents per share, compared with a loss of $5.4 million in the first half of 1990.