COMMERCIAL North Broken Hill profit suffers

Press, Volume CXIII, Issue 33212, 30 April 1973, Page 17

COMMERCIAL North Broken Hill profit suffers

The estimated net profit of North Broken Hill, Ltd, for the nine months to March 31 fell by about 8116,000 to §3,667,000, the directors announced. This was after deducting §143,000 less for royalties and tax, and after including 8219,000 more for net investment income, at 82,887,000.

Net investment income includes dividends actually re-1 ceived, and the estimated net profit for any period is not; necessarily an indication of the results for a full year, thei directors said. They noted that since the; devaluation of the United, States dollar in February,) overseas prices for lead, sil-l ver and zinc have increased.) ■ They said while these) prices are maintained, they) [will offset the reduction in the company’s income caused by the revaluation of the; Australian dollar in Decern-; ber, 1972. and the devalu-l ation of the United States) dollar and sterling in February this year. As previously reported, a steady 2.5 ner cent interim dividend will be paid on June 1 to shareholders as at Mav 8. The value of mine production rose from $13,375,000 to $13,546,000, while mine expenditure increased from $9 363.000 to $10,201,000. : Depreciation and amortis-) ation nrovision increased byj 's7’ 000 to .$469,000. The companv sold 38.794; 143 0661 tons of market lead. 1.896.473 (2.140,0231 ounces, of silver. 51.867 (62.885) tons. | of zinc concentrate and 19245 C 8911) tons of low) ; grade zinc concentrate. Tn the nine months period, the company treated 364,830 1(367,486) tons of crude ore,, ) assaying 12.58 (13.13) per, cent lead, 6.50 (6.84) ounces! iof silver a ton and 9.31 1(10.04) per cent zinc. I

The company produced 60,344 (63,096) tons of lead concentrate containing 42,566) (44.896) tons of market lead and 2.108,842 (2,250,246): 'ounces of market silver. Zinc concentrates pro-) • duction fell from 60,428 tons; 'to 55,829 tons, while low; 'grade zinc concentrates; !dropped from 11,229 tons to) 19258 tons. ) Low grade zinc concentrate) [output was 213 tons against nil previously.