Earnings for the second quarter ended June 30, totalled $1.1 million or 27 cents per share Starrex Mining Corp (TSE) reports. For the six- month period, profit totalled $1.29 million.
Earnings were derived from revenues generated by the company’s 35% interest in the Star Lake gold mine, located 80 miles north of La Ronge, Sask. Starrex notes that a provision for income tax has not been included, pending a review of the company’s deferred exploration expense pool and other tax credits.
Starrex began receiving revenues from the mine in April after mine and mill financing costs were paid back.
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