Malartic boosts income slightly

A net income of $l,896,478 (54 cents per share) was reported by Malartic Hygrade for 1986 compared with $1,892,747 (54 cents per share) for a year earlier. Cash flow from operations in 1986 was higher at $2,544,120 (72 cents per share) compared with $2,375,862 (68 cents per share) in 1985.

Gold production during the fourth quarter of 1986 amounted to 3,955 oz compared with 6,667 oz for the same period in 1985. (Under an agreement with Barrick Minerals, Malartic owns 60% of the total production.) Bullion production during the fourth quarter in 1986 was below expectations, as the anticipated improvement in grade was delayed until the first quarter of this year.