More news out today. Here are the first paragraphs of this release.
ALTA GOLD CO. ANNOUNCES 11TH CONSECUTIVE QUARTERLY
PROFIT
HENDERSON, Nev., March 20 /PRNewswire/ -- Alta Gold Co. (Nasdaq: ALTA)
today announced financial results for the quarter and year ended
December 31, 1996. For 1996, the Company reported revenues of $19.6
million as compared to $20.6 million for 1995. Net income for 1996
totaled $3.2 million or $0.11 per share as compared to $5.9 million or
$0.21 per share in 1995. Net income in 1995 included a non-recurring
$2.6 million gain from asset sales.
For the fourth quarter of 1996, the Company reported revenues of $4.6
million as compared to $7.7 million for the comparable quarter of 1995.
Net income for the fourth quarter of 1996 totaled $0.7 million or $0.02
per share as compared to $1.5 million or $0.05 per share for the fourth
quarter of 1995. The profit in the fourth quarter of 1996 represents
the 11th consecutive profitable quarter for the Company.
As planned, revenues and net income for both the fourth quarter and
year ended December 31, 1996 reflect the scheduled winding down of gold
production at Easy Junior and the mining of lower ore grades at
Kinsley. When put into operation, production from Olinghouse and
Griffon will not only replace, but moreover, will significantly exceed
production from Easy Junior. In addition, the ore grades at Kinsley
have and are expected to improve in 1997 in accordance with the overall
mine plan.
The whole story can be found at
websmart.stocksmart.com:8810/ss-news/CX396061.html
Good investing to all; |
