Shore Gold Reports 2012 Results, Reduces Net Loss
Shore Gold Inc. (SGF.TO) released its results for the year ended December 31, 2012, reporting a net loss for the year of $9.3 million or $0.04 per share compared with a net loss of $219.9 million or $0.98 per share in 2011.
The losses during the year were primarily due to ongoing operating costs and exploration and evaluation expenditures incurred by the company exceeding interest revenue earned on cash and cash equivalents and short-term investments.
During 2012, the company's main focus was the completion and submission of the Revised EIS for the Star-Orion South Diamond Project while also continuing to seek opportunities for development capital through participation in the Project by a third party or a syndicate of investors.
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