Minera Andes announces $6.8 million net income in Q3 and US$45 million in cash
Minera Andes, an exploration company looking for gold, silver and copper in Argentina, announced net income of $6.8 million in Q3 compared to a $5.6 million loss during the same period a year ago.
The company also reported that it has US$45 million in cash as at September 30, 2011 with no debt.
The company, which has a 49% ownership interest of the San José Mine, attributed the gain to high gold and silver prices.