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