Prime reports positive earnings

Net income of $3.4 million was reported by Prime Resources Group (VSE) for the 9-month period ended Dec. 31, 1992.

Prime’s 40% share of production from the Snip mine in Northern British Columbia for that period was 47,768 oz. compared with 50,171 oz. for the 12 months ended March 31, 1992. (Prime recently changed its fiscal year-end to Dec. 31.)

Prime also owns half of the Eskay Creek gold project near Stewart, B.C. Majority shareholder Homestake Mining (NYSE) expects to complete a feasibility study by mid-summer.