Quarterly Income statement.
What would you do with $25 Million?
Subj: Northgate Exploration Ltd. Reports Nine Month Results
Date: 97-11-13 20:36:09 EST
From: AOL News
BCC: Bigkid53
TORONTO--(BUSINESS WIRE)--Nov. 13, 1997--Northgate Exploration
Limited of Toronto (NGX: TSE, NYSE, ME, London SE) reports unaudited
consolidated net income of $304,000 or $0.01 per share for the nine
months ended September 30, 1997, compared with not income of
$1,053,000 or $0.03 per share in the nine months ended September 30,
1996.
Results for 1996 included a gain of $536,000, on the sale of the
Choquelimpie property in Chile.
At September 30, 1997, Northgate had working capital of $25.8
million including $27.1 million in cash and short term investments.
-0-
*T
NORTHGATE EXPLORATION LIMITED
CONSOLIDATED STATEMENTS OF INCOME
NINE MONTHS ENDED SEPTEMBER 30,1997 AND 1996
(Expressed in thousands of Canadian dollars)
(Unaudited)
Three Months NineMonths
Ended
Sep 30, Sep 30,
1997 1996 1997 1996
Revenue
Metal production $733
Investment and sundry income $363 $318 $1,125 1,814
Expenses
Mining 618
Administrative and general 259 266 814 823
Depreciation 2 2 7 53
261 268 821 1,494
Net income for the period $102 $50 $304 $1,053
Earnings per share $0.003 $0.002 $0.01 $0.03
*T
CONTACT:
Mr. Terry Lyons, 604/669-3141
416/362-6683
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