Earnings Report (June 12, 1989)

Orofino Resources (TSE) reported a net loss of $386,303 or 2 cents per share for the six months ended Mar 31 compared to a $20,287 loss in the same period last year.

Westfield Minerals (TSE) reported a net income of $6.5 million or 42 cents per share for the quarter ended Mar 31. In the first quarter of 1988 net income was $1.9 million or 13 cents per share.

Westfield’s sale of its shares in Whim Creek Consolidated accounted for the increased income, the company said.

On Mar 31, the company had investments with a market value of $35.2 million or $2.29 per share. Westfield also holds a 10% interest in Northgate Exploration Ltd.

First-quarter results for United Gold (VSE) show an $18,805 loss for the company. Exploration costs on United’s Clio gold property in California account for the loss, the company said. The company has $4.6 million in cash and short-term deposits.

]]>