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St Joe Gold Corp

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BUSINESS
August 26, 1987 | LESLIE BERKMAN, Times Staff Writer
In a move that will give it a sorely needed financial infusion, Fluor Corp. said Tuesday that it has agreed to sell its 90% interest in St. Joe Gold and other gold properties to an Australian mining company for $500 million in cash. The buyer, a subsidiary of Dall-hold Investments Pty., was described as the second-largest gold producer in Australia. It has made a $50-million "earnest money" deposit on the deal, which is expected to close by Oct. 31.
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BUSINESS
August 26, 1987 | LESLIE BERKMAN, Times Staff Writer
In a move that will give it a sorely needed financial infusion, Fluor Corp. said Tuesday that it has agreed to sell its 90% interest in St. Joe Gold and other gold properties to an Australian mining company for $500 million in cash. The buyer, a subsidiary of Dall-hold Investments Pty., was described as the second-largest gold producer in Australia. It has made a $50-million "earnest money" deposit on the deal, which is expected to close by Oct. 31.
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BUSINESS
January 22, 1987
St. Joe Gold Corp., a subsidiary of Fluor Corp., said that its net income for the 1986 fiscal year ended Oct. 31 jumped 48.67% to nearly $7.9 million from $5.2 million a year earlier. Sales for the year totaled $107 million, an increase of 9.71% from $98 million the prior year. Fourth-quarter net income increased 47% to $1.5 million from $1 million for the year-earlier period. Sales for the quarter rose 8.2% to $27.9 million from $25.8 million. St. Joe Gold Corp., based in Clayton, Mo.
BUSINESS
January 22, 1987
St. Joe Gold Corp., a subsidiary of Fluor Corp., said that its net income for the 1986 fiscal year ended Oct. 31 jumped 48.67% to nearly $7.9 million from $5.2 million a year earlier. Sales for the year totaled $107 million, an increase of 9.71% from $98 million the prior year. Fourth-quarter net income increased 47% to $1.5 million from $1 million for the year-earlier period. Sales for the quarter rose 8.2% to $27.9 million from $25.8 million. St. Joe Gold Corp., based in Clayton, Mo.
BUSINESS
September 19, 1986
St. Joe Gold Corp., a precious metal mining company formed last fall by Irvine-based Fluor Corp., declared its first cash dividend of 5 cents a share on the company's common stock. The dividend, declared Tuesday, is payable Oct. 20 to shareholders of record at the close of business Sept. 29. St. Joe completed an initial public offering last January of 3 million shares of its common stock. Fluor, through its wholly owned subsidiary St. Joe Minerals Corp., owns the remaining shares, or about 90.
BUSINESS
June 10, 1986
St. Joe Gold Corp., a mining subsidiary of the Irvine-based Fluor Corp., posted net income of $1.2 million for its second fiscal quarter ended April 30, down 54% from $2.6 million for the same period a year before. The company blamed the earnings decline on the production of a lower grade and volume of gold, only partially offset by generally higher gold prices. Second-quarter revenue was $26.5 million, down 9% from $29.2 million in fiscal 1985.
BUSINESS
February 1, 1986 | LESLIE BERKMAN
St. Joe Gold Corp., a wholly owned subsidiary of the Irvine-based Fluor Corp., raised $39 million in its initial public offering of 3 million shares of common stock. Proceeds from the offering will be used primarily to finance exploration and development of precious metal mines in the United States and Canada. Judy Caschiolini, vice president of syndicate marketing for Smith Barney, Harris Upham & Co.
BUSINESS
November 1, 1987
Fluor Corp. said it has completed the previously announced sale of its 90% interest in St. Joe Gold Corp. and other gold properties for $500 million in cash to a subsidiary of Dallhold Investments Pty. Ltd., an Australian holding company. The sale of St. Joe Gold will result in a pretax gain of approximately $400 million. Cash proceeds will be used to reduce debt and for other corporate purposes. Fluor, whose headquarters are in Irvine, is an engineering and construction company.
BUSINESS
June 7, 1986 | JAMES S. GRANELLI, Times Staff Writer
Despite a massive restructuring last year and higher revenues this year, Fluor Corp. reported Friday that it continued to lose money in the second quarter and first six months of its fiscal year. The Irvine-based company, however, is losing less money than it did a year ago. In fact, Fluor termed the $11.
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