Earnings Reports (January 16, 1989)

For the 9-month period ended Sept 30 the company reports net income of $1.06 million or 2 per share on revenue of $5.7 million. For the same period a year earlier the company reported net income of $1.67 million or 4 per share on revenue of $8.8 million.

Exall Resources (TSE) of Toronto reports net income for the 6-month period ended Oct 31, of $30,515 or 1 per share. For the same period a year earlier the company reported a net loss of $125,576 or 2 per share. The company’s closing cash balance for the period was $2.23 million.

CoCa Mines Inc. (NASDAQ) of Denver, Colo., reports net income for the 9-month period ended Sept 30 of $1.0 million(US) or 12 per share on revenue of $10.26 million. For the same period a year earlier the company reported net income of $2.61 million or 33 per share on revenue of $13.40 million.

The company’s 1988 earnings include pre-tax gains of $2.3 million from the sale of stock in Equity Silver Mines (TSE), compared with gains of $3.3 million on the sale of Equity stock for the comparable period of 1987.

Sikaman Gold Resources (TSE) of Toronto reports net earnings for the year ended Sept 30 of $891,710 or 19 per share (18 fully diluted).

The company reported working capital of $2.3 million at year end Sept 30. An additional $2.7 million in flow-through funds were also raised to finance exploration on its properties in the Northwest Territories and Snow Lake, Man.

Regarding financing for its share of costs on the Bogosu project in Ghana, West Africa, the company says it has filed a preliminary prospectus with regulatory authorities across Canada.

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