Armed with proceeds from last year’s sale of a 40% interest in the Big Springs mine, Bull Run Gold Mines (NASDAQ) is continuing to seek new mining opportunities.
The Denver-based junior sold its interest in the Nevada gold mine project about a year ago, and now has about US$5.3 million in cash and no debt. The company receives royalty income (US$9,000 in the 1991 third quarter) from a small pit on the Big Springs property which is currently being mined by Independence Mining.
Bull Run reported a net loss of US$10,272 for its 1991 third quarter ended Sept. 30, compared with a net loss of US$348,421 in the comparable period in 1990.
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