First-quarter earnings of US$798,700 (6 cents per share) on revenue of US$7.3 million were reported by CoCa Mines (TSE), compared with US$94,900 (1 cents per share) on revenue of US$4.1 million for the same period in 1989.
The quarterly earnings included a gain of US$585,100 on the sale of stock in Equity Silver Mines. Gold production during the quarter totalled 17,099 oz., compared with 9,300 oz. for the same period in 1989. The company says the increase can be attributed to the Shumake mine reaching full production capacity this year.
Direct production costs fell to US$199 per oz. during the quarter, compared with US$262 for the same three months in 1989. CoCa Mines (TSE) $000s except per-share items* Quarter ended Mar. 31 1990 1989 Revenue $7,263 $4,113 Net earnings 799 95
per share 0.06 0.01 *US dollars
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