Earnings Report (December 12, 1988)

Queenstake Resources (TSE) of Vancouver reports net earnings for the 3-month period ended Sept 30, of $398,687 or 4 per share on revenue of $4.8 million. For the same quarter a year earlier the company reported net earnings of $660,087 or 8 per share on revenue of $4.1 million.

For the 9-month period ended Sept 30, the company reports net earnings of $204,254 or 2 per share on revenue of $6.6 million. For the same period a year earlier the company reported net earnings of $120,592 or 2 per share on revenue of $4.3 million. The company says the most significant use of funds in the third quarter of 1988 was an expenditure of $228,000 on explorat ion programs at Dos Cabezas, Ariz., and $285,829 expended on placer exploration programs in the Atlin and Cariboo districts of British Columbia.