Japan Gold Announces Year-End Financial Results
(firmenpresse) - VANCOUVER, BRITISH COLUMBIA -- (Marketwired) -- 05/03/17 -- Japan Gold Corp. (TSX VENTURE: JG)(OTCQB: JGLDF) ("Japan Gold" or the "Company") announces that the Company''s audited consolidated financial results for the six month financial year ended December 31, 2016 have been filed on SEDAR. The full version of the Financial Statements and Management''s Discussion & Analysis can be viewed on the Company''s website at or on SEDAR at . All amounts are in Canadian dollars unless otherwise stated.
The Company changed its fiscal year-end from June 30 to December 31, effective December 31, 2016 in order to coincide with its peers in the mining industry. Accordingly, the current consolidated financial statements are prepared for six months from July 1, 2016 to December 31, 2016. As a result, the figures stated in the consolidated statements of loss and comprehensive loss, changes in equity, cash flows and the related notes are compared to the consolidated financial statements for the year ending June 30, 2016. The consolidated statements of financial position are as at December 31, 2016 and June 30, 2016. As such, these amounts may not be entirely comparable.
FINANCIAL SNAPSHOT
(i)The $8,180,491 of comprehensive loss was due primarily to a one-time reverse acquisition cost of $4,694,258 relating to the acquisition of Southern Arc Minerals Japan KK.
As at May 1, 2017, Japan Gold had approximately $4.4 million in working capital.
Corporate and Operating Highlights for the Six Month Financial Year Ended December 31, 2016
Strategic Priorities
On behalf of the Board of Japan Gold Corp.
John Proust, Chairman & CEO
About Japan Gold Corp.
Japan Gold Corp. is a Canadian mineral exploration company focused solely on gold and copper-gold exploration in Japan. The Company has applied for 160 prospecting rights licenses for a combined area of 53,218 hectares over eleven separate projects. The Company''s portfolio now has projects on the three main islands of Japan, Hokkaido, Honshu and Kyushu. Seven projects cover areas with known gold occurrences and a history of mining, and are prospective for high-grade epithermal gold mineralization. Four of the projects, in southern Hokkaido and northern Honshu, are located over gold-bearing lithocaps, which may indicate the presence of porphyry mineralization, a deposit style yet to be identified in Japan. Japan Gold''s leadership team has decades of resource industry and business experience, and the Company has recruited geologists and technical advisors with experience exploring and operating in Japan. Low-impact surface exploration is underway, with the expectation of applying for drilling this year. More information is available at or by email at .
Cautionary Note
Neither the TSX Venture Exchange nor its Regulation Services Provider (as such term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Contacts:
Japan Gold Corp.
John Proust
Chairman & CEO
778-725-1491
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Datum: 03.05.2017 - 06:30 Uhr
Sprache: Deutsch
News-ID 1502107
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Mining & Metals
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