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Latin American Minerals sees jump in Q3 assets

Tuesday, November 29, 2016 8:49
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(Before It's News)

Latin American Minerals Inc (CVE:LAT) reported a rise in third-quarter assets and reaffirmed that its focus in 2016 is on implementing the processing capacity at the Paso Yobai gold project in order to understand the process capacity of the current facilities.

The company is also exploring and testing nearby mineralized areas for possible mineralization. Additionally, the Company will continue to advance the engineering and extraction planning for the hard-rock deposit below the current workings.

Overnight, the south- and central-America minerals explorer released its third quarter earnings which showed that total assets C$22.1mln in the three months to Sept 30 from C$18.9mln at the end of 2015.

Net comprehensive loss in the latest quarter was C$1.4mln up from C$2,158 in the same period in 2015.

The impact of foreign currency translation adjustments was felt, as the company lost C$177,734 on forex in the latest period versus a gain of C$125,608 in the three months to end Sept 2015.

Story by ProactiveInvestors

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