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American CuMo (TSXV:MLY,OTCQX:MLYCF) announced it had posted a net gain of $19,003 for the third quarter ending September 30, 2014. This time last year, the company had posted a $474,472 loss.
According to the press release:
The Company recorded a net gain of $19,003 for this quarter, compared to a net loss of $474,472 in the quarter ended September 30, 2013. As of September 30, 2014, the Company had a working capital deficiency of $851,046, compared to a working capital deficiency of $1,291,240 at June 30, 2014.
Shaun Dykes, president and CEO, said:
the Company appreciates the hard work of all directors and management to improve our financial stability. The improvements in cash flow and the reduction in working capital deficit are just the beginning, as this is the first quarter under the new team. We will continue to work hard to improve the financial health of the Company while moving the CuMo Project forward.
Click here to read the American CuMo Mining Corporation (TSXV:MLY,OTCQX:MLYCF) press release
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