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NORD PACIFIC LIMITED ANNOUNCES FIRST QUARTER RESULTS

 HAMILTON, BERMUDA, May 14 /PRNewswire/ -- Nord Pacific Limited (NASDAQ: NORPF) announced today that its loss for the quarter ended March 31, 1993, was $146,000 or $(.05) per share as compared to a first quarter 1992 loss of $542,000 or $(.18) per share.
 The loss for the first quarter consists primarily of general and administrative expense of $696,000, write offs for abandoned projects and interest. The losses were largely offset by an unrealized gain of $789,000 on forward currency exchange contracts relating to the company's 40 percent owned Girilambone Copper Mine in New South Wales, Australia.
 Nord Pacific Limited is incorporated under the laws of Bermuda and is engaged in the exploration for precious metals, base metals and strategic minerals in Australia, Papua New Guinea, Mexico and the United States.
 NORD PACIFIC LIMITED
 CONSOLIDATED STATEMENT OF OPERATIONS
 (In thousands, except per share data)
 Quarter Ended
 March 31,
 1993 1992
 Revenues $ 812 $ 20
 Net (Loss) $(146) $(542)
 Per Share (Loss) $(.05) $(.18)
 -0- 5/14/93
 /CONTACT: Pierce Carson, president, or James Rosel, vice president, Nord Pacific Limited, 505-884-8446/
 (NORPF)


CO: Nord Pacific Limited ST: IN: MNG SU: ERN

BM -- CL003 -- 8483 05/14/93 09:06 EDT
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Publication:PR Newswire
Date:May 14, 1993
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