U.S. REPORT Bull Run sitting on cash

With about US$5.6 million in cash and no debt, Bull Run Gold Mines (NASDAQ) is searching for investment opportunities in the resource field.

The company sold its 40% interest in the Big Springs gold mine in Nevada in November for US$6 million in cash as well as the cancellation of about US$3.3 million in debt.

Bull Run reported a loss of US$40,394 for the three months ended March 31, on revenues of US$103,510. This compares with a loss of US$381,782 on revenues of US$24,682 for the first quarter of 1990.