ENP Newswire -
Release date- 12082014 -
The financial results are based on US GAAP and all currencies are in
Second Quarter 2014 Summary
Cash and short term investments as at
Net loss for the second quarter of 2014 was
The Company's working capital at
Consolidated Financial Results
Expenses during the second quarter were on budget as planned I Bed development and
The Company is nearing completion of the initial phase of development to resume production at Troy. Steel-reinforced concrete arches have been successfully stood through the B Faults in both the east and west drives. As of
The project remains on schedule and within budget for development of the North C Beds before the end of this quarter with re-start of the mill and limited commercial production anticipated in the fourth quarter of this year. From the North C Beds, an additional 5,900 feet of single decline is required to access the I Beds. If development continues as planned, it is estimated that full production may resume by mid-2015
Tel: (509) 921-2294
Except for the statements of historical fact contained herein, the information presented in this news release may contain 'forward-looking statements' within the meaning of applicable Canadian securities legislation and The Private Securities Litigation Reform Act of 1995.
Generally, these forward looking statements can be identified by the use of forward-looking terminology such as 'plans', 'expects', or 'does not expect', 'is expected', 'is not expected', 'budget', 'schedule', 'estimates', 'forecasts', 'intends', 'anticipates', 'or does not anticipate' or 'believes' or variations of such words and phrases or state that certain actions, events or results 'may', 'could', 'would', 'might' or 'will be taken', 'occur' or 'be achieved'.
Forward-looking statements contained in this news release include but are not limited to those relating to the possibility of resuming limited production in the fourth quarter of 2014 and full production by mid-215, our ability to develop the I Bed deposit at Troy including having the financial capability to do so, as well as our ability to achieve permitting of
Forward looking statements are necessarily based upon a number of estimates and assumptions that, while considered reasonable by management, are inherently subject to significant business and economic uncertainties, risks and contingencies and those factors discussed in the section entitled 'Risk Factors' in the Company's Form 10-K filed on
Although the Company has attempted to identify important factors that could cause actual results to differ materially, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such statements will prove to be accurate results and future events could differ materially from those anticipated in such statements.
Accordingly, readers should not place undue reliance on forward-looking statements.
Most Popular Stories
- Scholarships Offered for Hispanic Heritage Month
- Latin America Seeks Ways to Add Value to China Exports
- Boeing Succeeds in Early Wooing of China Airline Startups
- Hope Solo Sets Shutout Record in US Rout of Mexico
- Hurdles for Obama Health Law in Second Enrollment Season
- Etsy Says 'No' to Redskins Logo, Name
- Steve Ballmer Files Six-Figure Counterclaim vs. Steve Gordon
- IS Releases New Beheading Video
- Detroit Bankruptcy: Pivotal Progress in Trial's Second Week
- Sneak Peek: A Roundup of 2015 New Models