Subsidiary sale boost Campbell income

Campbell Resources (TSX: CCH) posted Cdn$600,000 (US$460,000) in net earnings in the third quarter this year, thanks in part to a Cdn$844,000 part payment on the sale of its Mexican subsidiary Oro de Sotula, the Canadian company announced. Vancouver-based Queenstake Resources (TSX: QRL) agreed to purchase the subsidiary for a six-month option at US$25,000/month with the purchase price to be paid by two notes totaling US$2mn, Campbell announced in 2001. Oro de Sotula has the Magistral gold mine in Sinaloa state. Campbell, which holds operations in Canada, has no immediate plans to re-enter the Mexican market. "We have more than enough properties in the areas where we operate at the moment," Campbell president and CEO Andre Fortier told BNamericas.