INV Metals (INV.TO) recorded a total comprehensive loss of $3,218,944 or $0.03 per share for the year ended December 31, 2012, compared with a total comprehensive loss of $6,766,348 or $0.10 per share for the corresponding period ended December 31, 2011.
The Company's cash balance as at December 31, 2012 was $25.3 million, compared to $12.7 million at year end 2011. The increase in the Company's treasury was a result of the financing completed in November in relation to the acquisition of the Quimsacocha gold property in Ecuador. Working capital at the end of 2012 was $25.3 million compared to working capital of $12.4 million at December 31, 2011.
The Company's 2013 exploration and operating budget is estimated at $12.7 million, including planned exploration expenditures of $9.7 million at Quimsacocha. The 2013 drill program is expected to commence in late March and a detailed exploration update will be provided once it has been finalized by management.
INV Metals is up half a cent (14.29%) to 4 cents, up from a yr low.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
Copyright (C) 2016 MTNewswires.com. All rights reserved. Unauthorized reproduction is strictly prohibited.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
