Wheaton reports income for 1993

Toronto-listed Wheaton River Minerals has reported a consolidated net income of $1.8 million or 17 cents a share for 1993, compared with a loss of $520,000 or 7 cents a share in 1992.

Almost $1 million of the $1.8 million in income was derived from the sale of 23,917 oz. of gold, produced at the Golden Bear mine in northwestern British Columbia. Wheaton owns an 81.4% interest in North American Metals (VSE), which owns the mine.

The remaining $821,000 is composed of what Wheaton refers to as “other income.”

Cash and short-term investments increased by $12.7 million and working capital rose to $13 million for the year, largely due to a series of equity issues.