Redzone Resources Corp. (REZ.TO), which is trading near a year low 23 cents, reported that it has filed its unaudited condensed interim consolidated financial statements for the three and six months ended October 31, 2011 and the related management's discussion and analysis.
The company reports a net loss for the three and six months ended October 31, 2011 of $0.3 million and $0.7 million, respectively, compared with $0.2 million and $0.6 million for the comparative periods in 2010.
As of October 31, 2011, the company had working capital of $2.7 million, including cash of $2.8 million. With this funding in place, the company is in a financial position to continue its current exploration strategy on the Lara Property.
The company commenced with a drill program at the Lara Property, located in the porphyry copper belt of Peru located approximately 400 km southeast of Lima, to test the large porphyry system identified last year through IP and magnetic surveying. The company expects to complete the drilling program by the end of December 2011 and prepare an updated NI 43-101 by the end of its fiscal year, April 30, 2012.
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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.
