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Barsele Minerals boosts balance sheet in Q3

Friday, November 25, 2016 8:33
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Barsele Minerals Corp. (TSX.V: BME), the miner junior, reported a huge improvement in its profitability with its third quarter earnings.

The company, which listed only in October 2015 delivered a comprehensive loss of C$98,489 in the three months to September 30, but that compares with a loss of C$440,250 in the preceding six months.

It also translates into an improvement in the latest quarter as the loss per share is rubbed out. IN the nine months to September 30 the loss was one Canadian cent per share.

The asset picture improved in the latest quarter too. Cash, which accounts for the lion share of assets, more than doubled to C$869,195 versus C$432,767 as at December 31. Adding in receivables and prepaid expenses Barsele’s total exploration and evaluation assets totaled C$883,534 versus C$440,067 at the end of 2015.

The Canada-based junior mineral exploration company has an impressive gold, silver, and copper exploration project on renowned mineral trends in Sweden (Barsele Gold Project).

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