Redfern fourth-quarter earnings down in '07

Posted: Thursday, March 27, 2008

JUNEAU - Vancouver-based Redcorp Ventures Ltd. and its subsidiaries on Tuesday reported a fourth-quarter 2007 net loss of $19 million, or almost 5 cents per share. The company lost $4.50 million in the fourth quarter of 2006.

Annual oil and gas revenues, interest and other income rose to $3.54 million. Expenses shrunk to $5.6 million from $9.15 million in 2006.

Redcorp is the parent of Redfern Resources Ltd., the would-be operators of the Tulsequah Chief mine, 40 miles northwest of Juneau on the Tulsequah River. Redcorp also owns Redcorp Empreendimentos Mineiros Unipossoal Lda., which handles its Portuguese multi-metal exploration activities.

The annual and fourth-quarter earnings report will be filed on on or before March 31, according to a company statement.

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