Potash Ridge Corporation (TSX:PRK,OTCQX:POTRF) released its second quarter financial results today. The company also provided key project highlights and an outlook for the remainder of 2014.
As quoted in the press release, highlights from the financial results were as follows:
- The Corporation reported a net loss for the second quarter of $2.1 million ($0.02 per share) compared with a net loss of $0.8 million ($0.01 per share) for the second quarter of 2013. $1.0 million of the net loss reported in the second quarter was related to an unrealized foreign exchange loss incurred.
- A total of $2.5 million was incurred on Blawn Mountain Project (the “Project”) activities in the first six months of 2014 compared with $7.0 million on Project activities for the first six months of 2013.
- The Corporation closed the second quarter of 2014 with cash and cash equivalents of $3.7 million and had accounts payable and accrued liabilities of $0.8 million.
Gensource Potash Corporation (TSXV:GSP) is focused on becoming Saskatchewan’s first vertically-integrated potash producer and has developed a unique business plan which will allow it to take advantage of the opportunities that exist in the potash industry.
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