EXHIBIT 11
BATTLE MOUNTAIN GOLD COMPANY
COMPUTATION OF EARNINGS PER COMMON SHARE
(expressed in thousands, except share and per share amounts)
Year ended December 31,
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1994 1993 1992
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PRIMARY INCOME (LOSS) PER SHARE
Net income(loss)
Net income(loss) $ 9,572 $ (4,405) $ (36,403)
Deduct dividends on preferred shares 7,475 3,738 -
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Net income(loss) applicable to common
stock $ 2,097 $ (8,143) $ (36,403)
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Shares
Weighted average number of common
shares outstanding 80,680,505 80,131,904 79,916,997
Assuming conversion of 6% convertible
debentures 4,848,485 - -
Assuming exercise of stock options reduced
by the number of shares which could have
been purchased with the proceeds from
exercise of such options 542,377 - -
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Weighted average number of common shares
outstanding as adjusted 86,071,367 80,131,904 79,916,997
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Primary income(loss) per common share $ .02 $ (0.10) $ (0.46)
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FULLY DILUTED INCOME (LOSS) PER SHARE (1)
Net income(loss) $ 9,572 $ (4,405) $ (36,403)
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Shares
Weighted average number of common
shares outstanding 80,680,505 80,131,904 79,916,997
Assuming conversion of 6% convertible
debentures 4,848,485 4,848,485 4,848,485
Assuming exercise of stock options reduced
by the number of shares which could have
been purchased with the proceeds from
exercise of such options
Assuming conversion of preferred stock 568,954 414,939 131,305
Weighted average number of common shares 10,952,600 6,931,645 -
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outstanding as adjusted 97,050,544 92,326,973 84,896,787
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Net income(loss) per common share assuming
full dilution $ .10 $ (0.05) $ (0.43)
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ADDITIONAL PRIMARY COMPUTATION (1)
Net income(loss) applicable to common stock
as adjusted per primary computation above $ (8,143) $ 36,403)
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Additional adjustment to weighted average
number of shares outstanding:
Weighted average number of shares
outstanding, as adjusted per primary
computation above 80,131,904 79,916,997
Anti-dilutive effect of outstanding
options (as determined by the
application of the treasury stock method) 101,755 130,422
Anti-dilutive effect of conversion of 6%
convertible debentures 4,848,485 4,848,485
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Weighted average number of shares, as
adjusted 85,082,144 84,895,904
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Primary earnings per share, as adjusted $ (0.10) $ (0.43)
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<FN>
(1) These calculations are submitted in accordance with Regulation S-K
Item 601(b)(11) although it is contrary to paragraphs 30 and 40 of
APB Opinion No. 15 because it produces an anti-dilutive result.