Dickenson Mines reports preliminary net earnings for the year ended Dec 31, before extraordinary items, of $4,140,000 or 36 cents per share compared to $1,707,000 or 16 cents per share in 1985.
Net earnings after an extraordinary item pertaining to an increase in the carrying value of the company’s investment in Kam-Kotia Mines were $6,025,000 or 48 cents per share. In 1985 there were no extraordinary items.
Total revenue in 1986 was $39,133,000 compared to $31,594,000 in 1985. Total gold production at the Red Lake mine during 1986 was 67,900 oz of which Dickenson’s 65% share was 44,100 oz. In 1985 total gold production was 62,700 oz of which Dickenson’s share was 40,800 oz.
For the fourth quarter ended Dec 31, net earnings before the extraordinary item were $1,357,000 or 11 cents per share. After the extraordinary item net earnings were $3,242,000 or 23 cents per share.
Total gold production in the fourth quarter was 14,400 oz of which Dickenson’s portion was 9,400 ounces. Gold production was adversely affected in the fourth quarter by modifications carried out on the ore hoist and major repairs done to a rod mill within the grinding circuit. This work has now been completed.
Be the first to comment on "Dickenson reports better net earnings"