Franco-Nevada Mining (TSE) has reported a net profit of $2.2 million or 18 cents per share for the nine months ended Dec. 31, compared with $886,000 or 7 cents per share during the same period last year. The company’s 9-month revenues increased to $3.9 million from $1.8 million in 1988.
Third-quarter net profits reported by Franco-Nevada were $842,000 or 7 cents per share, compared with $457,000 or 4 cents per share in the third quarter of last year.
Third-quarter revenues derived from Franco-Nevada’s royalty interest in American Barrick Resources’ (TSE) Goldstrike mine in Nevada rose to $1.5 million from $874,000 in 1988.
The company had a working capital position of $15.2 million on Dec. 31, compared with slightly more than $5 million last year.
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