Record production, revenues, and cash flow were reported by Pegasus Gold (TSE) for the year ended Dec. 31. Pegasus produced 341,400 oz. of gold for revenues of US$178.4 million and cash flow of US$59.1 million equal to US$2.47 per share. This compares with revenue of US$162.8 million, production of 283,800 oz. of gold and cash flow of US$51.7 million in the previous year.
Net income for the period was US$9.8 million, compared with a net of US$15.6 million in 1988. The company noted that the latest period included writedowns of US$4.8 million while the results in 1988 included a gain US$5 million on the sale of certain investments. Pegasus Gold (TSE)* Year ended Dec. 31 1989 1988 Revenue (000s) $178,400 $162,800 Net earnings (000s) 9,800 15,600 Net earnings
(per share) 0.410.66 *US dollars
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