ENP Newswire -
Release date- 13082014 -
The following is taken from the Company's Unaudited Condensed Consolidated Interim Financial Statements and Management's Discussion and Analysis, both of which are filed at www.sedar.com.
The Company's recent activities and events of note for 2014 (to date) are as follows:
The Company had approximately
The Company provided the results of its recent field surface exploration work at the
The Company provided an update on
The Company's primary priorities for 2014 are to commence production at the
In addition to the recent influx of cash proceeds from the
All amounts are in Canadian Dollars unless otherwise stated.
Exploration - all such expenses relate to the
General and administration expenses - all such expenses relate to the Canadian operations of
Impairment loss on available-for-sale financial asset
The principal changes in the Company's cash during the six months ended
Cash used in operating activities in the six months ended
Net cash from investing activities in the six months ended
The Company had no cash from or used in financing activities in the six months ended
Total current liabilities as at
As stated above, the Company recently raised additional equity capital of approximately
Management continues to evaluate additional capital financing alternatives which are available to fund, if necessary, the estimated
Outstanding Share Data
As at the date hereof, the following securities were issued and outstanding:
basic - 92,545,110 common shares
fully-diluted - 109,049,960 common shares, after including:
7,842,350 stock options, with exercise prices ranging from
8,662,500 common share purchase warrants (the 'Warrants'), with exercise prices ranging from
The Company's accumulated deficit was
About the Company
The Company's 100% owned
Tel: +1 (604) 681-5900
Forward Looking Information and Regulatory Endnotes
This news release contains 'forward-looking statements' and 'forward-looking information' within the meaning of applicable securities regulations in
Forward-looking information includes, but is not limited to, statements with respect to exploration plans and timing for Crucero, the grant of social license and exploration plans for Josnitoro, a potential mining operation at
Often, but not always, forward-looking information can be identified by the use of words such as 'plans', 'expects, 'is expected', 'budget', 'scheduled', 'projects', 'estimates', forecasts', 'intends', 'anticipates', or 'believes', or the negatives thereof or variations of such words and phrases or statements that certain actions, events or results 'may', 'could', 'would', 'might', or 'will' be taken, occur or be achieved.
The forward-looking information contained in this news release is based on certain assumptions that the Company believes are reasonable, including with respect to mineral resource estimates, the key assumptions and parameters on which such estimates are based, that that the current price of and demand for gold will be sustained or will improve, that general business and economic conditions will not change in a material adverse manner, that financing will be available if and when needed on reasonable terms, that supplies, equipment, personnel, permits and local community approvals required to conduct the Company's planned exploration and development activities will be available on reasonable terms, that results of exploration activities will be consistent with management's expectations and that the Company will not experience any material accident, labour dispute, or failure of equipment.
However, forward-looking information involves known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company to be materially different from any future results, performance or achievements expressed or implied by the forward-looking information.
Such factors include, among others, risk that actual results of exploration activities will be different than anticipated, that cost of labour, equipment or materials will increase more than expected, that the future price of gold will decline, that the Canadian dollar will strengthen against the U.S. dollar, that mineral resources are not as estimated, unexpected variations in mineral resources, grade or recovery rates, risk of accidents, labour disputes and other risks generally associated with mineral exploration and unanticipated delays in obtaining or failure to obtain community, governmental or regulatory approvals or financing.
Although the Company has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward-looking information, there may be other factors that cause actions, events or results to not be as anticipated, estimated or intended.
There can be no assurance that forward-looking information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Readers are cautioned not to place undue reliance on forward-looking information due to the inherent uncertainty thereof.
This announcement contains certain forward looking statements, including such statements within the meaning of Section 27A of the US Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. In particular, such forward looking statements may relate to matters such as the business, strategy, investments, production, major projects and their contribution to expected production and other plans of the Company and its current goals, assumptions and expectations relating to its future financial condition, performance and results.
Forward-looking statements include, without limitation, statements typically containing words such as 'intends', 'expects', 'anticipates', 'targets', 'plans', 'estimates' and words of similar import. By their nature, forward looking statements involve risks and uncertainties because they relate to events and depend on circumstances that will or may occur in the future.
Actual results, performance or achievements of the Company may be materially different from any future results, performance or achievements expressed or implied by such forward looking statements.
Factors that could cause or contribute to differences between the actual results, performance or achievements of the Company and current expectations include, but are not limited to, legislative, fiscal and regulatory developments, competitive conditions, technological developments, exchange rate fluctuations and general economic conditions. Past performance is no guide to future performance and persons needing advice should consult an independent financial adviser.
The forward looking statements reflect knowledge and information available at the date of preparation of this announcement. Except as required by the Listing Rules and applicable law, the Company does not undertake any obligation to update or change any forward looking statements to reflect events occurring after the date of this announcement. Nothing in this announcement should be construed as a profit forecast.
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