Electra Mining - Financial Results at December 31, 1995.VANCOUVER, B.C.--(BUSINESS WIRE)--May 6, 1996--ELECTRA MINING (VSE See DOS/VSE. VSE - Virtual Storage Extended :ELC ELC Early Learning Centre (UK) ELC Environmental Law Centre (Canada) ELC Environmental Learning Center (Vero Beach, FL) ELC Education Law Center ELC Early Learning Coalition ) Electra Mining Consolidated Ltd. (ELC - VSE) is pleased to announce its consolidated financial results for the year ended December 31, 1995. Revenues totalled $8,049,868, cash flow from operating activities was $4,568,362, and net earnings were $1,012,669 or $0.31 per share. Shareholders' equity Shareholders' Equity A firms' total assets minus its total liabilities. Equivalently, it is share capital plus retained earnings minus treasury shares. Shareholders' equity is the amount by which a company is financed through common and preferred shares. increased nearly 40 percent during the period to over $4 million. Debt repayments in the year totalled $3,499,861 and debt outstanding was reduced to $708,539 by year-end. Investments in mineral properties and facilities totalled $1,641,271. This included outlays Outlays Payments on obligations in the form of cash, checks, the issuance of bonds or notes, or the maturing of interest coupons. necessary to establish additional mineable ore reserves at the Company's Aurora Aurora, cities, United States Aurora (ərôr`ə, ô–). 1 City (1990 pop. 222,103), Adams and Arapahoe counties, N central Colo., a growing suburb on the east side of Denver; inc. 1903. mine as well as over $1 million invested in the Company's promising new gold project in Baie Verte Baie Verte may refer to:
Highlights of the results, in comparison with 1994, are given below. Electra owned 100 percent of the Aurora mine throughout 1995 and 50 percent for most of 1994. -0-
1995 1994
Revenues $ 8,049,868 $ 8,334,960
Cost of sales (5,920,888) (5,836,113)
Other expenses (1,116,311) (1,029,546)
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Net earnings $ 1,012,669 $ 1,469,301
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EPS (basic) $ 0.31 $ 0.51
EPS (fully diluted) $ 0.26 $ 0.47
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Cash as year-end $ 783,939 $ 1,231,749 Shareholders' equity $ 4,021,326 $ 2,883,701 Common shares outstanding 3,351,673 3,234,502 On behalf of the Board of Directors Douglas B. Stelling, President -0- NOTE TO EDITORS: The information contained herein has neither been approved nor disapproved by regulatory authorities Noun 1. regulatory authority - a governmental agency that regulates businesses in the public interest regulatory agency administrative body, administrative unit - a unit with administrative responsibilities . CONTACT: Electra Mining Consolidated Ltd. Douglas B. Stelling, 604/685-4747 604/685-4730 (Fax) |
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