For the fourth quarter ended Dec. 31, 1990, Bull Run Gold Mines (NASDAQ) reported earnings of US$3.6 million compared with a fourth-quarter loss of US$224,000 in 1989. The results included earnings of US$3.6 million from discontinued operations. Continuing operations showed a loss of US$39,000 for the quarter. Revenues from continuing operation during the fourth quarter of 1990 were US$45,000.
The company reported a profit of US$2.3 million for the year ended Dec. 31, compared with a loss of US$1.2 million in 1989.
The year-end results included a US$2.5-million profit from discontinued operations. Continuing operations showed a loss of US$222,000 for 1990.
Bull Run closed the sale of its 40% interest in the Big Springs heap leach gold mine near Elko, Nev., in November, 1990. As a result, the company has a cash position of over US$6 million while current liabilities stand at about US$500,000.
Bull Run is reviewing and investigating various natural resource opportunities.
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