TORONTO, ONTARIO — (Marketwired) — 05/30/13 — Roxgold Inc. („Roxgold“ or „the Company“) (TSX VENTURE: ROG) wishes to announce the Company-s unaudited financial results for the three months ended March 31, 2013. For complete details of the first quarter unaudited Condensed Interim Consolidated Financial Statements and associated Management-s Discussion and Analysis, please see the Company-s filings on SEDAR () or on the Company-s web site ().
Financial Highlights:
Corporate Highlights:
Events Subsequent to March 31, 2013
Work Planned for the Remainder of 2013:
Selected Financial Data
Roxgold-s net loss for the three months ended March 31, 2013 totaled $681,602 (three months ended January 31, 2012: $7,682,116). The decrease in the net loss for the current period was primarily due to a decrease in share-based payments and share units of $7,082,769. As at March 31, 2013, the Company had cash and short term investments of $14,509,860 and net working capital of $13,181,433. The primary use of cash during the three months ended March 31, 2013 was exploration and evaluation expenditures totaling $4,317,841.
The Company also announces that it has granted an employee incentive stock options to purchase up to an aggregate of 200,000 common shares exercisable on or before May 29, 2018 at a price of $0.52 per share.
About Roxgold
Roxgold is an exploration and development company with its key asset, the 167 Km2 Yaramoko exploration permit, located in the Hounde greenstone region of Burkina Faso, West Africa. Roxgold is focused on further exploring the Company-s 100% owned Yaramoko permit and advancing the 55 Zone.
ON BEHALF OF ROXGOLD INC
Wayne Moorhouse, Chief Financial Officer
This news release may contain forward-looking statements. These statements are based on information currently available to the Company and the Company provides no assurance that actual results will meet management-s expectations. Forward-looking statements include estimates and statements that describe the Company-s future plans, objectives or goals, including words to the effect that the Company or management expects a stated condition or result to occur. Forward-looking statements may be identified by such terms as „anticipates“, „believes“, „could“, „estimates“, „expects“, „may“, „shall“, „will“, or „would“. Since forward-looking statements are based on assumptions and address future events and conditions, by their very nature they involve inherent risks and uncertainties. Actual results relating to such future events and conditions could differ materially from those currently anticipated in such statements for many reasons such as: changes in management, changes in general economic conditions and conditions in the financial markets; litigation, legislative, environmental and other judicial, regulatory, political and competitive developments; and other matters discussed in this news release. This list is not exhaustive of the factors that may affect any of the Company-s forward-looking statements. These and other factors should be considered carefully and readers should not place undue reliance on the Company-s forward-looking statements. The Company does not undertake to update any forward-looking statement that may be made from time to time by the Company or on its behalf, except in accordance with applicable securities laws.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Contacts: Roxgold Inc. Wayne Moorhouse CFO 604-682-7305
Only registered users can comment.
