Toronto-based Hillsborough Resources (TSE), which is developing the Mt. Hundere lead-zinc project in a joint venture with Curragh Resources (TSE), succeeded in doubling its profits during 1990. For the year ended Dec. 31, Hillsborough increased its net income to $2.2 million or 44 cents a share, from $1.1 million or 23 cents a share in the previous year. Revenues from mine contracting activities also increased in 1990 to $33.5 million from $31 million a year ago.
President George Vooro attributed the earnings increase to the company’s ability to heighten its productivity through the use of more efficient mining equipment and the extensive training of employees.
Hillsborough holds a 20% stake in Mt. Hundere where the joint venture is spending $70 million to construct a 100,000-ton-per-year operation scheduled to be up and running in 1992. Curragh holds an 80% interest in the Yukon Territory project. Hillsborough Resources (TSE) 12 months ended Dec. 31 1990 1989 Revenue $33,500 $31,000 Net earnings 2,249 1,101
per share 0.44 0.23
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