A net income of $2 million or 24 per share has been reported by Blackdome Mining (TSE) for the first nine months of 1988. This compares with $5.1 million or 61 for the same period a year ago.
The company incurred pre-tax exploration expenditures of $3.3 million compared to $742,313 in the same period last year. Because of increased exploration, mine development and tax instalments on taxable income, operating cash flow dropped to $3.8 million from $9.5 million a year earlier. Working capital as of Sept 30 was $13.5 million compared to $9.2 million at Dec 31, 1987. Cash and short term investments were $7.7 million.
Net loss for the quarter was $183,598 or 2 per share compared to restated net income of $1.7 million or 21 in 1987. Mine operating income before exploration expenditures was $1.2 million.
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