Friday, August 13, 2010

A better quarter from Minera Andes (

Tell the world: A mine in Argentina actually made a profit!

Sales revenue of $49.4m from San José is a new mine record. Net income for MAI on that (MAI owns 49% of the mine) came to $11.3m, which is also good. From there, MAI has clearly been spending on its other projects, because once the San José revenues had run through the structure post tax net profit turned out at $4.6m.

Here's the NR for more crunchy goodness. This McEwen vehicle isn't sparkling yet, but this quarter was a step in the right direction. DYODD.