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THE NESMONT INDUSTRIAL REPORTS TRIPLING OF NINE MONTHS SALES

    THE NESMONT INDUSTRIAL REPORTS TRIPLING OF NINE MONTHS SALES
    LADNER, British Columbia, Dec. 2 /PRNewswire/ -- The Nesmont Industrial Corporation (Vancouver Stock Exchange: NES), a precious metals processor based here, today reported that sales for the nine months ended Sept. 30, 1991 rose to  $17,572,706 from $5,626,181 a year ago.  Net income totaled $277,138, equal to 3 cents per share, as against $11,775, or 0 cents per share, in the corresponding nine months of 1990.
    William K. Nestor, president and chief executive officer of Nesmont, attributed the sales gain the beginning of the year.  He stated:  "The ramp up in production substantially increased our working capital requirements, entailing significant financing expenses and the use of short term, higher cost borrowings.  Steps are being taken to expand our credit availability with lower cost funds."
    The Nesmont Industrial Corporation, through its wholly owned Nesmont Precious Metals Corporation subsidiary, is the only fully integrated processor west of the U.S. Rocky Mountains and west of Ontario in Canada.
                   NESMONT INDUSTRIAL CORPORATION
                  Comparative Consolidated Results
                            (unaudited)
    Period ended                       Nine months
     Sept. 30                      1991            1990
    Sales                       $17,572,706    $ 5,626,181
    Cash flow                       791,598        213,018
    Cash flow per share                 .07            .02
    Net income                      277,138         11,775
    Net income per share                .03            .00
    Shares outstanding at
     end of period               11,237,381      8,458,945
    -0-           12/2/91
    /CONTACT:  William K. Nestor, president of Nesmont Industrial, 604-946-2266/
    (NES.) CO:  Nesmont Industrial Corporation ST:  British Columbia IN:  MNG SU:  ERN SM-SH -- NY025 -- 8275 12/02/91 10:34 EST
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Publication:PR Newswire
Date:Dec 2, 1991
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