Nevada royalty specialist Euro- Nevada Mining (TSE) reported a profit in the 3-month period ended June 30. First quarter net income was $670,000 or 5 cents per share on revenues of $1.1 million compared with $121,000 or 1 cents per share on revenues of $412,000 in the same period last year.
On June 30, Euro-Nevada’s working capital position had increased to $20.9 million from $9.3 million at the same time in 1989.
A sister company of Toronto- based Franco-Nevada Mining (TSE), Euro-Nevada holds royalties on eight North American gold properties, including the producing Santa Fe and Maggie Creek mines in Nevada.
Euro-Nevada is also based in Toronto. Euro-Nevada Mining (TSE) $000s except per-share items First-quarter ended June 30 1990 1989 Revenue $1,139 $412 Net earnings 670 121
Per share 0.05 0.01
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