MDN Reports Financial Results for Fiscal Year Ended December 31, 2012
MDN Inc. (MDN.TO) today reported its financial results for the fiscal year ended December 31, 2012.
The Company is reporting a net loss attributable of $12,862,510 or $0.127 per share to owners of the Company, compared to net income of $1,675,414 or $0.016 per share for the same period in 2011. The change was mainly due to the write-off of prospecting and exploration and evaluation assets and a drop in royalties from the Tulawaka mine.
As at December 31, 2012, the Company was debt-free and had cash assets of $4.4 million.
Shares are just above a yr low of 5 cents.
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