Minera Andes Inc. (TSE:MAI) announce net income of $6.1 million for the three month period ended September 30 2010.

Minera Andes Inc. (TSX:MAI) announce net income of $6.1 million for the three month period ended September 30 2010.

The press release is quoted as saying:

Minera Andes is an exploration company exploring for gold, silver and copper in Argentina with three significant assets: a 49% interest in Minera Santa Cruz SA, owner of the San José Mine in close proximity to Andean Resources’ Cerro Negro project; 100% ownership of the Los Azules copper deposit with an inferred mineral resource of 10.3 billion pounds of copper and an indicated resource of 2.2 billion pounds of copper; and, 100% ownership of a portfolio of exploration properties bordering Andean’s Cerro Negro project in Santa Cruz Province. The Corporation had $10 million USD in cash as at September 30 2010 with no bank debt. Rob McEwen, Chairman and CEO, owns 33% of the company.

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