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Arianne Phosphate (TSXV:DAN,FWB:JE9N,OTCBB:DRRSF) filed its financial statements for the first quarter of 2013. The first quarter ended with cash of $4,891,638, access to undrawn credit lines of $600,000 and mining tax credit receivables of $2,975,580.
As quoted in the press release:
The Company ended the first quarter with cash of $4,891,638, access to undrawn credit lines of $600,000 and mining tax credit receivables of $2,975,580. Based on current spending estimates for the Feasibility Study and future project development, Arianne anticipates it will need additional financing before the end of 2013. The Company expects it will be able to raise the required amount of funds at competitive rates.
The Company’s Interim Financial Statements and accompanying management’s discussion and analysis for the quarter ended March 31, 2013 and the year ended December 31, 2012 are available on the Company’s website and on SEDAR at www.sedar.com. Unless otherwise noted, all figures in the press release are reported in Canadian dollars.
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