Belmoral shows quarterly profit

Belmoral Mines reports net income of $259,000 or 1 cents per shares in the third quarter of 1986,the first profit recorded by the company in the past three years.

For the same period a year earlier the company had a loss of $1.6 million or 17 cents per share. In the second quarter of 1986 it reported a loss of $2.3 million or 9 cents per share.

For the first nine months of 1986 the company reports a loss of $2,527,000 or 10 cents per share compared to a loss of $4,588,000 or 49 cents per share for the same period in 1985.

Revenue for 1986’s third quarter was $7.4 million compared to $6 million in 1986’s second quarter and $4.5 million in the third quarter of 1985. Gross revenue for the 9-month period was $18.5 million compared to $15.1 million in the 9-month period ended Sept 30, 1985.