Earnings out today. Apparently does not include any recent diamond sales.
Tuesday December 29, 1:39 pm Eastern Time
Company Press Release
Dia Met: Third Quarter Results
KELOWNA, British Columbia--(BUSINESS WIRE)--Dec. 29, 1998--(TSE:DMM.A. -
news; AMEX:DMM.A - news; TSE:DMM.B. - news; AMEX:DMM.B - news) Dia Met
Minerals Ltd. released its quarterly results for the nine months ended October 31,
1998. Summarized financial highlights (reported in Canadian dollars) for this period,
compared with the nine months ended October 31, 1997 are as follows:
Nine months Nine months
Ended October 31, Ended October 31,
1998 1997
(unaudited) (unaudited)
_________________ _________________
Revenue $1,396,474 $3,933,268
Total expenses before
The write off of
exploration and
development costs of
abandoned properties
and programs $2,639,752 $5,016,391
Exploration and
development costs of
abandoned properties
and programs
written off $50,272 $767,425
Gain on disposal of
capital assets and net
assets of aircraft
operations $39,496 $787,854
Income taxes $351,363 $342,980
Loss for the period $1,605,417 $1,405,674
As at As at
October 31, October 31,
1998 1997
(unaudited) (unaudited)
_________________ _________________
Cash position $37,090,955 $42,478,183
Working capital $38,379,767 $43,831,402
Shareholders' equity $60,220,102 $60,984,554
Dia Met is a publicly traded mineral exploration and development company with a primary focus on diamonds. The company holds
a 29 per cent interest in the Ekati Diamond Mine, Canada's first commercial diamond mine, together with BHP Diamonds (51 per
cent), Charles Fipke (10 per cent) and Stewart Blusson (10 per cent). The Ekati Diamond Mine is located 300 kilometres northeast
of Yellowknife in Canada's Northwest Territories.
SIGNED ON BEHALF OF THE BOARD OF DIRECTORS
James E. Eccott, President
The American Stock Exchange and Toronto Stock Exchange have neither approved nor disapproved the information contained in
this release.
Contact:
Dia Met Minerals Ltd.
Gerald Prosalendis, 250/861-8660
250/861-3649 (FAX)
E-mail: geraldp@direct.ca
Website: www.diamet.com
or
Dia Met Minerals Ltd.
James E. Eccott, 250/861-8660
250/861-3649 (FAX)
PHIL |
