U.S. REPORT Silver tarnishes Nerco earnings

Operating income from Nerco’s (NYSE) mineral segment reached US$1.3 million in the 1991 first quarter, down from US$2.9 million for the same three months in 1990.

The company said the decrease in earnings came primarily as a result of a lower silver prices.

During the quarter Nerco sold 43,000 oz. gold, compared with 37,000 oz. in the 1990 first quarter. Silver sales of 1.1 million oz. were substantially higher than the 540,000 oz. produced in the 1990 period, but the average silver price was US$1.13 per oz. lower in the 1991 quarter than a year earlier.

Nerco also has a coal division and an oil and gas division.


Print


 

Republish this article

Be the first to comment on "U.S. REPORT Silver tarnishes Nerco earnings"

Leave a comment

Your email address will not be published.


*


By continuing to browse you agree to our use of cookies. To learn more, click more information

Dear user, please be aware that we use cookies to help users navigate our website content and to help us understand how we can improve the user experience. If you have ideas for how we can improve our services, we’d love to hear from you. Click here to email us. By continuing to browse you agree to our use of cookies. Please see our Privacy & Cookie Usage Policy to learn more.

Close