Fronteer Gold (TSE:FRG) Profits Up on Gold Project Sales

Fronteer Gold (TSE:FRG) reported a profit for the first quarter, largely on the back of selling two of their gold projects based in Turkey to Alamos Gold Inc (TSE:AGI).

Earnings came in at C$9.8 million, or 8 Canadian cents a share for the quarter as a result, beating analysts' expectations, who had been looking for a loss of 1 cent. Last year in the same quarter the company posted a loss of C$5.5 million, or 6 Canadian cents.

The sale of the two gold projects in Turkey brought the company C$18.4 million. Fronteer had a 40 percent interest in the two mines.

Over the last three months Fronteer has made a nice upward move of about 30 percent.