Westfield adds to cash position

Earnings of $453,000 for the nine months ended Sept. 30, 1993, have added to the fortunes of Westfield Resources (TSE).

The debt-free company has cash and marketable securities totaling $24.3 million, as well as 6.7 million common shares of Northgate Exploration (TSE). Its investment portfolio includes about $4 million in cash, 494,600 shares of Noranda (TSE) and $10 million worth of a preferred-share mutual fund (Varitech Investors).

As the Northgate stock is regarded as a long-term investment, it is not included in the current asset figure of $24.3 million.

Westfield has 16.5 million shares outstanding.