Pancana profit slips

Pancana Minerals reports net earnings of $1,146,000, (24 cents a share after allowing for preferred share dividends) in the 6-month period ended June 30, compared with earnings of $2,008,000 or 50 cents a share, in the similar period last year.

The company notes that 1985 operations included oil and gas as well as gold.

The earnings figure in the six months was increased from $793,174, as a result of an extraordinary tax benefit in the period, Pancana also notes.

Revenues for the six months were $5,397,000, compared with revenues of $5,199,000 in the corresponding 1985 period. Cash flow was $1,323,000 compared with $2,557,000 last year.

Pancana says gold production in the six months from its 50% interest in the Goldstrike joint venture, Nevada, was 10,250 oz compared with 11,955 oz produced in the first half of 1985.



Republish this article

Be the first to comment on "Pancana profit slips"

Leave a comment

Your email address will not be published.


By continuing to browse you agree to our use of cookies. To learn more, click more information

Dear user, please be aware that we use cookies to help users navigate our website content and to help us understand how we can improve the user experience. If you have ideas for how we can improve our services, we’d love to hear from you. Click here to email us. By continuing to browse you agree to our use of cookies. Please see our Privacy & Cookie Usage Policy to learn more.