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Logan cash pile jumps 10-fold

Thursday, November 24, 2016 14:25
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A ten-fold increase in cash holdings at Logan Resources (CVE:LGR) helped boost the junior mineral explorer’s balance sheet after it released interim results on Thursday.

Cash and equivalent holdings shot up to C$1.666mln in the half year to Sept 30 from C$163,224 in the six months to March 31.

As is normal for explorer companies committing to projects at various times of the business year, the company recorded a comprehensive loss of C$ 467,840 versus C$57,879 in the same period a year earlier.

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