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Delta Gold Corporation Announces Annual Financial Results

Wednesday, December 11, 2013 0:57
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(Before It's News)

VANCOUVER, BRITISH COLUMBIA–(Marketwired – Dec. 10, 2013) - Delta Gold Corporation (the”Company“) (TSX VENTURE:DLT) reports that it has filed on SEDAR (www.sedar.com) its audited annual consolidated financial statements and related management discussion and analysis (“MDA”) for year ended September 30, 2013.

With the financings during the year and the cash contributed from the ADR amalgamation the Company had a cash and cash equivalents balance of $5.5 million at September 30, 2013.

The Company completed the amalgamation with ADR Capital Corp. (“ADR”) and related financings during February 2013. The financing and the cash provided by ADR provided net proceeds of $7.3 million.

Overall, the Company reported a loss and comprehensive loss for the year of $3.0 million compared with $3.1 million in the previous year. The amalgamation purchase price (the total fair value of the consideration less the total fair value of the identifiable nets assets acquired) resulted in a $1.0 million charge to consolidated statement of loss, which significantly contributed to the overall loss for the year.

Delta Gold’s CEO, Marco Romero, stated: “Delta is well positioned to advance its business plan in 2014. Our company is well funded and our team is managing its valuable human and financial resources judiciously. We are working hard to build relationships that will allow us to prudently advance the Imperial Project and remain ever watchful for quality opportunities that leverage our skills and build fundamental value for our shareholders in a disciplined fashion.”

Delta Gold Corp. is a development stage mining company whose goal is to build a successful mid-tier gold producer committed to industry-leading technical, environmental and social best practices. Our business strategy is to identify and evaluate mineral investment opportunities located in favourable jurisdictions and settings, and to prudently acquire and develop projects that are economically, socially and environmentally viable.

Neither the Exchange nor its Regulation Services Provider (as that term is defined in the policies of the Exchange) accepts responsibility for the adequacy or accuracy of this release.

Forward-Looking Statements

This document may contain “forward-looking information” within the meaning of Canadian securities legislation and “forward-looking statements” within the meaning of the United States Private Securities Litigation Reform Act of 1995 (collectively, “forward-looking statements”). These forward-looking statements are made as of the date of this document and Company does not intend, and does not assume any obligation, to update these forward-looking statements, except as required under applicable securities legislation. By their very nature forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of Company to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements.



Source: http://thestockvine.com/delta-gold-corporation-announces-annual-financial-results/

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