Malartic boasts healthy net income

Reporting a net income in 1986 of $1.9 million (54 cents per share) was Toronto-based Malartic Hygrade, with last year’s total up slightly from 1985. Cash flow from operations in 1986 increased approximately 8% from the year before.

The company’s operating profit margin, before depreciation or resource taxes, was $176 per oz in 1986, compared with $181 in 1985.

Malartic reports it has no short or long term debt and had cash and liquid investments at Dec 31 exceeding $10 million.

The company is planning to put a second gold mine into production — its Orion project — in the fall of this year. Malartic is currently involved (it receives 60% of the revenue) in a profitable gold-mining venture with Barrick Minerals (Canada).