International Pursuit Corporation Reports Strong First Half Results

Strategic Insights -

International Pursuit Corporation, a leading exploration company, reported robust results for the first half of 1995, with revenues soaring to $4,377,946, compared to $417,195 in the same period the previous year. This significant increase in revenue is largely attributed to net gains on the sale of investments, interest income, and dividends. Notably, the company's net earnings for the six months ended June 30, 1995, were $1,911,282, or 13 cents per share, a substantial improvement from the previous year's net earnings of $5,721.

Key Takeaways:

  • The company's revenue for the first half of 1995 increased by 948.8% compared to the same period in 1994, reaching $4,377,946.
  • Net earnings for the first half of 1995 were $1,911,282, or 13 cents per share, a 32,733.3% increase from the previous year's net earnings of $5,721.
  • The company's revenues were generated through net gains on the sale of investments of $4,329,725, interest income of $29,297, and dividends of $18,924.
  • The Hinoba-an project, located on the island of Negros in the Philippines, has shown promising results, with 2930 meters in 14 drill holes being drilled, intersecting "ore grade" mineralization in 34% of the total drilled meters.
  • An estimated additional resource of between 24 and 36 million tons has been outlined, mostly in the A1 anomaly area, with the potential for infill drilling.
  • The company is considering optioning other exploration properties in the Philippines and participating in a developed copper project.
  • Stephen R. Dattels, the company's contact person, can be reached for further information at (416) 947-9216.

Statistics:

  • Revenue for the first half of 1995: $4,377,946
  • Revenue for the first half of 1994: $417,195
  • Increase in revenue: 948.8%
  • Net earnings for the first half of 1995: $1,911,282
  • Net earnings for the first half of 1994: $5,721
  • Increase in net earnings: 32,733.3%
  • Percentage of total drilled meters intersecting "ore grade" mineralization: 34%
  • Estimated additional resource: 24-36 million tons
  • Number of drill holes drilled: 14
  • Total meters drilled: 2930

Sources:

  • "INT'L PURSUIT (TSE:IPJ) First Half Results to June 30th, 1995" - Business Wire, August 14, 1995
  • Hinoba-an Project Progress Report - International Pursuit Corporation, no date provided