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INV Metals Reports 2012 Results and Provides Update; Shares Up 14% From Yr Low

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.

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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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